BSECO members to meet in Sochi

Energy ministers from members of the Black Sea Economic Cooperation Organisation are meeting in the Russian city of Sochi. Russia currently holds the chairmanship of the group which includes 11 other states, including Armenia, Azerbaijan, Georgia, Greece,

Mikhail Krutikhin, an analyst with “Russian Energy Weekly” magazine, visits Russia Today’s studio to comment on the meeting of the Black Sea Economic Cooperation Organization members in the Russian city of Sochi:

Members of the BCECO are very much concerned, especially after Russia promised some gas to be exported to China and after Putin promised that Russia will expand its gas supplies to Western Europe, during his last visit to Paris. And they have a reason to be much concerned, because gas supplies from Russia have a rather limited quantity.”

“Azerbaijan is now completing a new pipeline that will deliver some amount of gas to the European markets via Turkey. And Russia is decreasing its promises to the South-European nations, because there is now not enough gas in Russia. Vladimir Putin has even asked the regions to rely more on coal, wood and other alternative to gas energy sources. Russian gas production is growing only by half percent annually. It is not enough to satisfy the European markets.”