The fact that the EU did not introduce economic sanctions against the Russian gas industry is good news for Russia, said Danila Bochkarev, expert of the Brussels-based Institute East-West.
“As far as pipes and compressor stations are concerned, Russia has everything it needs or it can buy almost the same quality in China. We have no problems with that. But the sanctions could seriously affect the underwater pipelines,” said the same source to Interfax agency.
He said neither Russia, nor China can manufacture this type of equipment. The leaders here are EU member-states – Italy and Netherlands.
“Sanctions will mean very serious problems for the underwater gas pipelines and first of all South Stream. There are no companies of this type in Japan and South Korea, or if they do exist, they are extremely busy,” the expert specified.
“The sanctions will not create problems for the pipeline gas. The liquefied natural gas (LNG) projects could be suspended. After 5-10 years China, South Korea and Russia will have these technologies. But it is better not to lose these 5-10 years,” Bochkarev added
He said mainly the measures taken by the EU against Russia in the energy field could be considered “rather as a moral and image blow, than a financial flow.”
“This is not very crucial. But considering that economy is already in crisis, the sanctions could have psychological and logistical effects. One will have to fund new money and many projects will be delayed. But nothing serious is going to happen right now,” Bochkarev believes.
