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    Reuters: Europe drafts emergency energy plan with eye on Russia gas shut-down

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Summary

Analysts at French bank Societe Generale believe the Ukrainian situation will not be resolved without a transit interruption resulting in a spike in natural gas

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Reuters: Europe drafts emergency energy plan with eye on Russia gas shut-down

The European Union could ban gas exports and limit industrial use as part of emergency measures to protect household energy supplies this winter, a source told Reuters, as it braces for a possible halt in Russian gas as a result of the Ukraine crisis.

Russia is Europe's biggest supplier of oil, coal and natural gas, and its pipelines through Ukraine are currently the subject of political manoeuvring - not for the first time - as Europe and Moscow clash over the latter's military action in Ukraine.

Kiev is warning that Russia plans to halt gas supplies while Moscow says Ukraine could siphon off energy destined for the European Union - which has just threatened new sanctions if Moscow fails to pull its forces out of Ukraine.

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