Refusal of gas supplies from Russia may lead to the fact that blue fuel reserves in Europe will quickly run out. The agency warned about this on September 7 in its article. Bloomberg.
The publication states that Europe is facing the worst energy crisis in the last 50 years due to rising energy prices and sanctions against Russia. The high cost of fuel not only exacerbated the cost-of-living crisis, but also pushed the European economy to the brink of recession.
In this situation, the complete cessation of gas supplies from Russia will lead to the fact that the current reserves will be exhausted in a short time, since Europe will not be able to establish an alternative to Russian supplies until at least 2025.
“Europe could have even more serious problems next winter. Perhaps next summer, countries will not be able to fill the storage facilities as we managed to do this year, ”said Niek Den Hollander, commercial director of Uniper.
Bloomberg admits that Europe is heavily dependent on economic ties with Russia, and their destruction by anti-Russian sanctions leads to the fact that the population of the region was “in distress.”
“This will culminate in the destruction of demand. People will have to change their lifestyle. You will drive less, you will turn on the heat less, you will turn on the lights less, and you will have to live with the shutdown of industrial production,” summed up the chairman and co-founder of Tellurian Inc. Charif Souki.
Russian President Vladimir Putin, speaking on the same day at the plenary session of the Eastern Economic Forum (WEF), noted that if the West develops any decisions of a “political nature” that would contradict contracts for the supply of energy resources, Russia will not comply with them, which will lead to a complete halt in the supply of energy resources to unfriendly countries.
The day before, German Foreign Minister Annalena Burbock said that Germany cannot abandon Russian gas and oil in one day. And the day before, the official representative of the German government, Steffen Hebestreit, advised the people of Germany to save gas as actively as possible. According to him, this is necessary in order to survive the winter well.
On September 5, Uniper Chief Executive Officer Klaus-Dieter Maubach announced that Germany would consider rationing gas consumption after the suspension of supplies via Nord Stream (JV).
On September 2, Gazprom announced that deliveries through the joint venture were suspended indefinitely due to an oil leak at the gas pumping unit of the Portovaya compressor station.
The Kremlin called the crisis situation around the Nord Stream. They said that the units for the gas pipeline are very high-tech equipment and it is unlikely that you can find many companies in the world that are able to service them.
Experts believe that the resumption of the work of Nord Stream can happen if the EU clearly explains the sanctions regimes of Canada, Great Britain and the European Union in relation to Trent-60 turbines purchased for pumping gas through the joint venture, and also allows Siemens to conclude agreements for equipment maintenance.
Prior to this, on August 17, Bloomberg reported that in the event of a cessation of gas supplies from the Russian Federation to Germany, the country would have to face a serious shortage of energy resources for the coming winter. Agency employees after analyzing the data came to the conclusion that with this outcome, the stocks would only last for three months. And on August 15, the head of the German Left Party, Martin Schirdevan, predicted protests in the country by autumn due to rising energy prices and rising inflation.
Gas supplies fell back in mid-summer due to problems with the return of the turbine for Nord Stream, which arose as a result of anti-Russian sanctions. So, on June 14 and 15, Gazprom announced the shutdown of two, and then one more of the gas pumping units serving the pipeline. The company could not return turbines from maintenance from Canada. Because of this, the flow of gas to Germany through Nord Stream has decreased to 40% of the gas pipeline’s capacity. The gas crisis began in the country.
After negotiations between Berlin and Ottawa, the Canadian side returned the turbine to the German side, but problems began with the transportation of the unit. Gazprom has repeatedly noted that anti-Russian sanctions hinder the solution of the situation with the shipment of the Siemens turbine to the Russian Federation for Nord Stream.
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