russian gas

Russia and Austria signed a deal Saturday that will expand Moscow's position of strength in supplying Europe with natural gas by allowing it to expand a planned pipeline further into the EU.

Russian gas monopoly Gazprom on Wednesday reported a 62 percent drop in net profit for the first quarter of 2009, when the company was hit hard by disruptions of gas supplies to Europe and the plunging value of the ruble.

Profound questions remain beyond next winter about whether Europe can ever guarantee adequate and stable supplies of natural gas from Russia, its largest supplier.

Four European governments signed an agreement with Turkey Monday for a gas pipeline that would reduce Europe’s dependence on Russian gas.