The situation with liquefied natural gas (LNG) in Europe could worsen in 2023, predicted Patrick Pouyanne, head of oil and gas company Total in France. He stressed that the main problem in the European market is the supply of diesel fuel.
“Europe will receive less Russian gas than in 2022 and will have to import LNG in large quantities again. The situation will become more tense again,” he was quoted on January 28 Bloomberg.
European companies will be forced to look for alternative gas suppliers, wrote “Newspaper.ru“. At the same time, it is not clear how much more profitable their proposals will be. In any case, Europe needs to start concluding long-term fuel agreements now to increase its own security level in the energy sector, Pouyanne believes.
“European countries should diversify energy suppliers, mainly through long-term contracts. However, it is always the same story – there is an offer, but there is also a price,” he said.
Earlier in the day, the German edition of Focus pointed to the risks of EU-US energy cooperation. In Europe, over the past 10 years, companies have concluded at least 33 contracts for the supply of American LNG, 10 of them in 2022, and this makes one realize the scale of “Europe’s new dependence on the United States.”
On January 16, Petr Zabortsev, an economist and entrepreneur, director of innovation at OS-Center, explained the decline in gas prices in Europe by a decrease in demand. At the same time, the European Commission’s quarterly report on the gas market, published on January 13, reported that the cost of gas for residents of the capital cities of the European Union in November last year increased by almost 60% compared to the same period in 2021.
On January 9, financial expert of the Finmir marketplace, Anton Kravtsov, said that the cost of gas in the European Union could rise if there is a sharp drop in temperature and geopolitical risks increase.
Western countries decided to reduce their dependence on Russian energy resources against the backdrop of a special operation of the Russian Federation to protect Donbass, the beginning of which was announced on February 24. This decision was made against the backdrop of shelling of the LDNR by the military of Ukraine.
For more up-to-date videos and details about the situation in Donbass, watch the Izvestia TV channel.
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