Russian Energy Minister Cancels Appearance
“Rigzone” reports that Russian Oil Minister Alexander Novak canceled his appearance at the IHS CERAWeek conference in Houston after his country invaded the Crimea peninsula in the Ukraine. Novak was scheduled to address the gathering on Tuesday.
IHS Vice Chairman Daniel Yergin said “Depending on how this plays out in the next week or two, it (Russia’s invasion of Crimea) will have a big impact on energy security. Russia will want to maintain its reputation as a credible supplier.”
Oil and gas prices rose as investors expressed concern that tension in the Ukraine might curb energy supplies. Russian natural gas is shipped to Europe via pipelines through the Ukraine. European gas consumers are heavily dependent on Russian gas.
To read the article in its entirety, please go to www.rigzone.com/news/oil_gas/a/131896/Russias .