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21 comments on Turkmenistan learns a lesson

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westexas on January 15, 2008 - 11:56am

I think that Greece is the country that really learned a lesson (about being at the end of a supply line).

Turkmenistan cut gas exports to Iran.

Iran cut gas exports to Turkey.

Turkey cut gas exports to Greece.

Greece cut gas exports to?

As I have noted over the past several days, this has been a prime example of the ELM in action--price and import markets be damned, exporters are literally going to keep the home fires burning.

And of course, we have the quote from Iran that I am nominating as quote of the year.

"We don't want oil money. Supply gas!"

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Heading Out on January 15, 2008 - 1:04pm

Thanks, I missed that connection. For those that want the link to a story there is one here , which notes that the Greeks are anticipating that the Russians will make up the difference. But one wonders where they will get the supply - from Turkmenistan perhaps? Well the prices through that route are scheduled to go higher also.

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dissident on January 16, 2008 - 12:04am

Interesting how Turkey gets to cut off Azeri gas destined for Greece and there is not a single peep about wrong doing. But Russia gets accused of engineering the shortages and making a killing on them. There will be a price for this abuse. Putin's desire to please the west is not sitting well at home.

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westexas on January 16, 2008 - 12:43pm

I suspect, but don't know for sure, that the only reason Greece did not cut gas exports is that they don't export meaningful amounts of gas. The bottom line, as I pointed out above, is that these various countries are literally more interested in keeping the home fires burning than in exporting energy.

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21 comments on Turkmenistan learns a lesson

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