Expanding Energy

MOSCOW — Russia expanded its growing European energy empire Friday, signing two more deals raising fears among Western leaders that the growing dependence is giving the Kremlin a powerful geopolitical weapon.

Announcing the signing of two agreements to construct pipeline and storage facilities in Serbia, Russian officials said the deal would make the poor Balkan nation an important hub for the distribution of Russian gas.

Russia has been rushing to build or acquire European pipelines, storage facilities, ports and energy companies. Russia already supplies one-quarter of Europe's natural-gas and oil needs.

Just last week, Bulgaria agreed to become a major hub for a proposed 550-mile underwater pipeline from the southern Russian coast to the Black Sea's western shore. In December, Turkmenistan signed a deal with Russia to build a pipeline that would increase shipments of gas to Russia. The U.S. has led an effort to limit its inroads — in part by planning new energy pipelines that would bypass Russian territory, but Chris Weafer, chief strategist at UralSib, a Russian investment bank, said fast action by Russia to increase its energy deals has made it difficult for Western countries to organize the huge financial investment needed for rival pipelines.

Click Here

Russia is now expanding its energy reserves. This poses a potential problem for westernized countries. Could Russia be planning something? From this article we learn about Russia's interaction with other countries and Russia's solution the approching energy crisis.