Poland, Bulgaria Can Only Ensure Gas Supply If Others Avoid Halt
- Both nations say they have alternatives to Russian shipments
- But any gas cutoff to larger EU importers would crimp options
Gas contracts held by Poland and Bulgaria with Gazprom expire at the end of 2022.
Source: Bloomberg
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Poland and Bulgaria gave a bullish response Wednesday to the halt in gas flows from Russia. But security of supply can only be assured if other European countries avoid a similar cutoff.
Poland insisted it had enough gas in storage for more than 1 1/2 months and consumers won’t feel the hit, while Bulgaria said it had secured supply for “at least a month.” Yet both will need imports from elsewhere in the region, and Russia has suggested other “unfriendly” states may also face a cut in flows.