From an excellent FT article:
BP owns almost a fifth of Russia’s largest oil producer Rosneft. UK-listed rival Shell controls 27.5 per cent of Gazprom’s huge Sakhalin-2 offshore gas project in Russia’s far east. Exxon has been operating in Russia for 25 years and producing oil and gas in eastern Russia since 2005 in a partnership involving two Rosneft affiliates.
Financial Times
More than 20 European countries import gas from Russia. The Czech Republic and Latvia import 100% of their gas from Russia. Hungary, Slovakia, Bulgaria, Finland, Germany, and Poland import more than half of their gas from Russia.
Clumsy sanctions could send oil and gas prices soaring to Russia’s benefit and the West’s detriment. We should first remove the sanctions that have intentionally and inadvertently been imposed on our own producers, including leasing blockades and permitting obstacles. The Ukraine crisis and its side effects will be with us for years, as will the demand for oil and gas. We need both immediate and longer term supply solutions.
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