In the UK, they were afraid of a “mortal blow” in the event of the Nord Stream gas pipeline being blocked by Russia, an analyst writes about this Daily Express Thibault Spirle on Sunday 28 August.
The Russian gas company Gazprom will suspend the operation of the Nord Stream pipeline from August 31 to September 2, as a result, as the publication says, Europe is afraid of an extension of the shutdown, which will be a “gas blow”.
According to energy security expert Valerie Chow, in the event of a complete shutdown of the pipeline, the reserves of European countries will be depleted by early January 2023, as the states do not have enough alternative gas suppliers.
The material says that the European Union has reduced the supply of Russian fuel, but the countries are still dependent on Russian energy sources. He added that Europeans are “competing with the clock” to fill gas storage before a cold winter.
On Friday, August 26, Igor Yushkov, a leading analyst at the National Energy Security Fund, said that the overall gas losses of the European Union from the shutdown of the Nord Stream pipeline would be relatively small, but if supplies were stopped for a longer period, the losses of the EU would be significant. According to him, the temporary shutdown of gas supply through the Nord Stream could be extended if Gazprom makes critical remarks about the technical condition of the facility during preventive maintenance.
On August 23, in an interview with Izvestia, experts predicted an increase in gas prices in Europe to $4,000 per 1,000 cubic meters in the first half of September. Previously, Gazprom expected such a price in winter. But since August 18, the cost of blue fuel has been at a level above $2.4 thousand, and on the 22nd at the exchange in the European Union it exceeded $3 thousand per 1 thousand cubic meters.
Liam Peach, an expert on Russia at the British company Capital Economics, said on August 28 that Russia could not supply gas to Europe for a year without any consequences for itself. TV channel “360”. Peach calculated that the high level of energy prices allows the Russian Federation to earn up to $ 20 billion per quarter by selling gas, even with a reduction in the volume of supplies.
On August 5, EU countries finally adopted a plan to reduce demand for natural gas by 15% this winter. The release of the Council of the EU states that the purpose of reducing demand for gas is to prepare for possible interruptions in gas supplies from Russia.
In April, Russian President Vladimir Putin noted that the refusal of a number of Western countries from normal cooperation with Russia, as well as from part of Russian energy resources, had already hit Western countries. Prices are rising everywhere, and inflation is going through the roof. This, he said, is absolutely unprecedented for these countries. Putin also noted that Europe, in fact, commits an auto-da-fé, refusing the energy resources of the Russian Federation.
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