He said it has huge implications for Germany and Italy and other economies in Europe because they receive half, or more, of their gas from Russia.
The pipeline transports 55 billion cubic metres a year of gas from Russia to Germany under the Baltic Sea. He explained that Ireland gets 30% of our gas from Corrib, the other 70% comes from Britain or through Britain from Norway,"so we're not directly affected" by the Russian pipeline being shut down.
He warned that energy prices are going to rise further,"but if the gas is cut off by the Russians, then you could see a further dramatic rise in prices.
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