Who is responsible for the gas crisis in Europe?

Who is responsible for the gas crisis in Europe?
Who is responsible for the gas crisis in Europe?

https://fr.sputniknews.com/20211013/qui-est-responsable-de-la-crise-gaziere-en-europe-1052130422.html

Who is responsible for the gas crisis in Europe?

Who is responsible for the gas crisis in Europe?

The EU itself is to blame for the gas crisis which is in full swing in Europe, writes the British daily The Financial Times. She has shown … 13.10.2021, Sputnik France

2021-10-13T18:20+0200

2021-10-13T18:20+0200

2021-10-13T19:06+0200

gas crisis 2021

Russia

europe

gas

financial times

/html/head/meta[@name=”og:title”]/@content

/html/head/meta[@name=”og:description”]/@content

https://cdnnfr1.img.sputniknews.com/img/07e5/04/14/1045498738_0:0:1920:1080_1920x0_80_0_0_b5586f8a0afb4f4678d9ccca2c017b50.jpg

While 84% of French people say they are worried about their energy expenditure in the face of soaring gas prices in Europe, the rise in prices reflects the lack of European reserves and strong Asian demand, notes the Financial Times (FT). This gives Russia political leverage, according to the media outlet. Moscow, for its part, has always stressed the purely economic nature of its gas deliveries, rejecting allegations that it was used as a means of pressure. Likewise, an analyst from the Russian National Energy Security Fund told Sputnik that the price hike does not benefit Russia at all, because “when the price gets very high it starts to kill demand.” The Russian President also recalled on Wednesday that his country had always fully fulfilled its contract obligations with its partners in Europe “even during the most difficult periods of the Cold War”. Who is to blame? However, the EU can only blame itself for this crisis, says the British daily. The EU “has increased its gas dependence on Russia over the past decade”. The United States, which for several years sought to prevent the construction of the Nord Stream 2 gas pipeline, hoping to deliver more LNG to Europe, has been unable to cover this deficit with its exports. 41% of Russian natural gas imports. The UK is not as dependent on it, but is, like all other countries, sensitive to price fluctuations. Both Brussels and London “have ignored the role that natural gas should play as a transitional fuel for decarbonization.” As a result, over the past decade, gas reserves in the UK have shrunk by two-thirds and are now sufficient for only four to five days of peak winter demand, deplores the FT. A risk of shortage? Normally, the country buys US LNG to cushion price shocks. Last year, US gas accounted for 12% of British imports, the media explains. This year, US LNG terminals are already operating at 95% of their capacity, due to strong Asian demand, while Russian gas giant Gazprom has also almost reached maximum capacity, producing 1.4 billion cubic meters. per day. Russia needs to fill national reserves first before serving foreign customers, notes the FT. Vladimir Putin for his part said on Wednesday that Russia was ready to discuss additional delivery volumes and could even set a record for granting gas this year. “Myopia” The soaring gas prices observed in recent weeks are “an appropriate punishment for European and British politicians because of their myopia”, insists the Financial Times. They can remedy this by developing energy transition plans featuring natural gas as a transitional and reserve fuel, according to the media outlet.

Michelvsrin

EUROPE is fully responsible! The little games to stay green, energy speculation … Everything has to be paid for one day, the problem is that it is still the citizens who will get it right !!

14

Emmanuel Pittet

It is Europe and the speculators who are responsible, Putin has nothing to do with it, on the other hand we can not do everything to prevent the completion of the N straem2 and then complain about the shortage

9

22

Russia

europe

2021

Anastassia Verbitskaïa

https://cdnnfr1.img.sputniknews.com/img/103501/90/1035019020_173:205:481:513_100x100_80_0_0_5dc7635a595d6cc67969ee5d8f080ead.jpg

Anastassia Verbitskaïa

https://cdnnfr1.img.sputniknews.com/img/103501/90/1035019020_173:205:481:513_100x100_80_0_0_5dc7635a595d6cc67969ee5d8f080ead.jpg

News

fr_FR

Sputnik France

[email protected]

+74956456601

MIA “Rosiya Segodnya”

https://cdnnfr1.img.sputniknews.com/img/07e5/04/14/1045498738_220:0:1920:1275_1920x0_80_0_0_f558d9dd210858bf7bf5db3a6220977f.jpg

[email protected]

+74956456601

MIA “Rosiya Segodnya”

Anastassia Verbitskaïa

https://cdnnfr1.img.sputniknews.com/img/103501/90/1035019020_173:205:481:513_100x100_80_0_0_5dc7635a595d6cc67969ee5d8f080ead.jpg

russie, europe, gaz, financial times

18:20 13.10.2021 (Update: 19:06 13.10.2021)

Anastassia Verbitskaïa

All articlesWrite to author

The EU itself is to blame for the gas crisis which is in full swing in Europe, writes the British daily The Financial Times. She showed “myopia” and “ignored the role that natural gas should play as a transitional fuel for decarbonization”.

While 84% of French people say they are worried about their energy expenditure in the face of soaring gas prices in Europe, the rise in prices reflects the lack of European reserves and strong Asian demand, notes the Financial Times (FT).

This gives Russia political leverage, according to the media outlet. Moscow, for its part, has always stressed the purely economic nature of its gas deliveries, rejecting allegations that it was used as a means of pressure.

Likewise, an analyst with the Russian National Energy Security Fund told Sputnik that the spike in prices is not benefiting Russia at all, because “when the price gets very high, it starts to kill demand.” The Russian President also recalled on Wednesday that his country had always fully fulfilled its contract obligations with its partners in Europe. “even during the most difficult times of the Cold War”.

Who is to blame?

However, the EU can only blame itself for this crisis, says the British daily. The EU “has increased its gas dependence on Russia over the past decade”. The United States, which for several years sought to prevent the construction of the Nord Stream 2 gas pipeline, hoping to deliver more LNG to Europe, has proved unable to make up this deficit with its exports.

According to the newspaper, the European Union is 41% dependent on natural gas imports from Russia. The UK is not as dependent on it, but is, like all other countries, sensitive to price fluctuations. Both Brussels and London “have ignored the role natural gas should play as a transitional fuel for decarbonization”.

As a result, over the past decade, UK gas reserves have shrunk by two-thirds and are now only sufficient for four to five days of peak winter demand, laments the FT.

A risk of shortage?

Normally, the country buys US LNG to cushion price shocks. Last year, US gas accounted for 12% of British imports, the media explains. This year, American LNG terminals are already operating at 95% of their capacity, due to strong Asian demand.

Russian gas giant Gazprom, for its part, has also almost reached its maximum capacity, producing 1.4 billion cubic meters per day. Russia also needs to fill national reserves first before serving foreign customers, notes the FT.

Vladimir Putin, for his part, said on Wednesday that Russia was ready to discuss additional delivery volumes and could even set a record for granting gas this year.

A “myopia”

The surge in gas prices observed in recent weeks is “an appropriate punishment for European and British politicians for their myopia”, insists the Financial Times. They can remedy this by developing energy transition plans featuring natural gas as a transitional and reserve fuel, according to the media outlet.

Source

responsible gas crisis Europe

 
For Latest Updates Follow us on Google News
 

PREV Nickel: “contract of the century” between Prony New Caledonia and Tesla
NEXT Swiss casino king subject to US arrest warrant