After Russia called off the South Stream project, EU officials have urged the the bloc to end its dependence on gas from Moscow.

Russia meets around 30 percent of the EU’s gas annual needs.

EU Budget Commissioner Kristalina Georgieva said:
“This confirms the importance of not being dependent on a single source of gas. Diversification of energy sources is very important.”

The International Energy Agency has said that Europe should do more to liberalise its energy markets

Speaking at the European Parliament, former Russian energy tycoon and political prisoner Mikhail Khodorkovsky casted doubt on whether Vladimir Putin’s move to scrap South Stream would be effective.

“I don’t believe that this decision is final, because the alternative solutions economically don’t make sense.”

The Russian president made the announcement on Monday in the Turkish capital of Ankara.

One of the main reasons for pressing ahead with the project was to bypass Ukraine.

It would have cost some 20 billion dollars, or 16 billion euros.

Aside from the current political climate, there were also doubt whether Russia’s Gazprom would be able to comply with EU competition rules in relation to the pipeline.