The Ukraine crisis has engulfed the news cycle over the last month, as the stakes continue to rise with little sign of a resolution. Although a frontline of tensions has developed along the Ukrainian border, several European nations could end up caught in the fallout. Russia holds a monopoly on gas supplies to the continent and is on track to further expand its influence.
How much gas does the UK get from Russia?
Although Mr Putin has focused his attention on Ukraine, analysts fear he may attempt to strong-arm European countries by threatening their gas supplies.
Senior officials in the UK Government recently warned Russia could “weaponise” gas supplies by cutting off Europe if leaders threaten sanctions over the developing crisis.
The country has nationalised a wealth of gas suppliers within its borders, many of which now supply EU member states.
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Recent data shows approximately 43 percent of member states receive gas from Russian owned oil firms.
Gazprom handles the bulk of exports, transporting billions of cubic meters of natural gas (BCM) from the country every year.
Finland and Sweden are two of the most reliant nations on Russian gas, with most of their supplies coming from the east.
Figures from the company show that Germany is also highly reliant on Gazprom gas.
Since 1973, Germany has received roughly one trillion BCM, with 57.01 BCM in 2019 alone.
Overall, official estimates suggest 40 percent of the country’s total supplies come from Russia.
In comparison, France received 14.07 BCM the same year.
The UK is less reliant than the other two superpowers, as British markets received approximately 10.32 BCM in 2019.
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The North Sea accounts for approximately 50 percent, and another third comes from pipelines via Norway.
The remainder comes from several European nations such as the Netherlands and Belgium.
The primary threat to the UK from Russian owned gas doesn’t come from direct sales, but rising prices.
If gas firms decide to strangle supplies into Europe, prices inevitably rise in pursuit of profit from nations deprived of gas, leading the shortages to spread further afield.