Oxford Institute's Yafima on the Euro Energy Crisis

The video discusses the current state of gas supply from Russia to Europe, highlighting the global gas crunch and various factors contributing to it. Gazprom's supply strategy, including its domestic storage priorities and export obligations, is examined. The video also compares gas supply to China and Europe, clarifying that these are separate operations. The potential for Russia to weaponize the gas market is considered, with a focus on Gazprom's adherence to contracts. Finally, the role of Nord Stream 2 in future gas supply to Europe is explored.

What are some of the factors contributing to the global gas crunch?

• A combination of various global events

• Natural disasters affecting production

• Increased demand from Asia

• Political instability in the Middle East

How has Gazprom communicated its supply forecasts to Europe?

• Through secret diplomatic channels

• By reducing gas prices

• By updating its supply forecasts publicly

• By increasing gas prices

What is a key challenge in ramping up Russian energy production?

• Lack of skilled labor

• Difficulty in moving resources

• High production costs

• Environmental regulations

Why is Gazprom prioritizing domestic storage over European supply?

• To increase exports to Asia

• To reduce transportation costs

• Because of legal obligations under Russian law

• Due to higher profits in the domestic market

How are gas supplies to Europe and China separated?

• Through international agreements

• By different pricing strategies

• By government regulations

• Through separate infrastructure and fields

What would indicate a potential weaponization of the gas market by Russia?

• A public announcement by Gazprom

• An increase in gas supply to China

• A reduction in gas supply to Europe

• A sudden increase in gas prices

What is the significance of Nord Stream 2 for European gas supply?

• It will completely replace Ukrainian transit routes

• It will increase gas prices in Europe

• It will provide some relief to the tight market

• It will decrease gas supply to China