Europe won't survive past 2022 without Russian gas
(Baonghean.vn) - Europe will certainly not be able to live without Russian gas until winter, as it will not be possible to quickly replace supplies from Russia with additional liquefied natural gas, Sergei Kolobanov - Deputy Head of the Economic Department of the Fuel and Energy Complex, Russian Center for Strategic Research, said in a commentary.
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Illustration photo. Photo: AP |
“Europe will definitely not be able to live without Russian gas in 2022 and the winter of 2023: it will not be possible to replace demand with LNG so quickly (even without taking into account that there is not so much LNG in the world),” he believes.
The expert noted that it will take at least six months to implement lease agreements, delivery, installation and connection to the gas transport system of regasification terminals. Currently, Europe is expected to reduce its consumption of Russian gas by 30 billion cubic meters in 2022, the expert estimated. He added that a decrease in gas injections from Russia to Europe and an increase in supplies from other countries have been recorded over the past four months, that is, the rebalancing process has begun. However, it is possible to talk about its completion no earlier than 2024-2025, Kolobanov concluded.
The European Commission, following Russia's military campaign in Ukraine, has developed the REPowerEU plan, which would see Russian gas imports reduced by two-thirds – or about 100 billion cubic meters – by the end of this year.
According to the International Energy Agency, the EU imported 155 billion cubic meters of natural gas from Russia in 2021, accounting for 45% of total imports and 40% of total European consumption. EU diplomatic representative Josep Borrell believes that EU countries could reject Russian gas within the next two years./.
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