EU: Obtain Gas Supplies if Russia Shuts Valve

EU authorities should be ready to intervene to secure gas supplies in the bloc in the event that the crisis over Ukraine leads to a major disruption of flows from Russia, the European Union's energy chief said on Thursday.

Guenther Oettinger unveiled the results of "stress tests" conducted across the 28 member states to work out how vulnerable Europe is to a supply cut from Russia ahead of winter.

He stressed that the EU could cope with a gas supply cut if its member states cooperated and allowed market forces to work for as long as possible:

"If we work together, show solidarity and implement the recommendations of this report, no household in the EU has to be left out in the cold this winter," Oettinger said in a statement.

Reporting by Julia Fioretti and Tom Koerkemeier