PARIS: Europe faces a massive shortage of natural gas by 2023 if Russia cuts off supplies entirely but there are measures that can be taken to avoid shortages, International Energy Agency said second.
The Paris-based IEA, which advises energy-consuming countries on policy, estimates that Europe faces a potential shortfall of 23 billion cubic meters of natural gas if Russia stops deliveries altogether. China’s imports and exports of liquefied natural gas (LNG) rebound to 2021 levels.
This represents about 6.5% of the EU’s 2021 gas consumption.
“The European Union has made significant progress in reducing its dependence on Russian natural gas supplies, but is not yet out of the danger zone,” said IEA Executive Director Fatih Birol, quoted in a statement.
He said the circumstances are unlikely to be favorable in 2023 for European nations to fill their gas reserves, which coupled with increased purchases of LNG supplies appear to have averted the danger. shortages this winter even though Russia has halted most gas deliveries.
But it is unclear whether Russia will continue to supply gas at low levels into 2023, while China’s easing of its Covid-free policy could lead to an economic recovery and increased LNG imports.
“New IEA analysis shows that stronger push for energy efficiency, renewables, heat pumps and simple energy-saving actions is crucial to avoid the risk of shortages and costs going higher next year,” Birol said at an event launching the agency’s latest report. analysis.
Those analyzes concluded that the potential supply gap could be closed by the EU implementing such additional measures.
European Commission President Ursula von der Leyen said at the event: “The Russian blackmail has failed.”
She called on EU member states to quickly approve additional measures to strengthen energy preparedness and called for joint energy purchases.
The Paris-based IEA, which advises energy-consuming countries on policy, estimates that Europe faces a potential shortfall of 23 billion cubic meters of natural gas if Russia stops deliveries altogether. China’s imports and exports of liquefied natural gas (LNG) rebound to 2021 levels.
This represents about 6.5% of the EU’s 2021 gas consumption.
“The European Union has made significant progress in reducing its dependence on Russian natural gas supplies, but is not yet out of the danger zone,” said IEA Executive Director Fatih Birol, quoted in a statement.
He said the circumstances are unlikely to be favorable in 2023 for European nations to fill their gas reserves, which coupled with increased purchases of LNG supplies appear to have averted the danger. shortages this winter even though Russia has halted most gas deliveries.
But it is unclear whether Russia will continue to supply gas at low levels into 2023, while China’s easing of its Covid-free policy could lead to an economic recovery and increased LNG imports.
“New IEA analysis shows that stronger push for energy efficiency, renewables, heat pumps and simple energy-saving actions is crucial to avoid the risk of shortages and costs going higher next year,” Birol said at an event launching the agency’s latest report. analysis.
Those analyzes concluded that the potential supply gap could be closed by the EU implementing such additional measures.
European Commission President Ursula von der Leyen said at the event: “The Russian blackmail has failed.”
She called on EU member states to quickly approve additional measures to strengthen energy preparedness and called for joint energy purchases.
