Refusal of Russian gas amid the Ukraine crisis has already cost Europe nearly $1 trillion. This is reported with reference to its own calculations. Bloomberg.
According to the agency, this amount was due to rising electricity prices for European companies and consumers. As stated in the material, this is only the beginning of the deepest energy crisis in recent years.
Bloomberg points out that after winter, Europe will have to fill gas storage facilities in the face of minimal fuel supplies from Russia.
According to the agency’s forecasts, the tense situation in liquefied natural gas supplies in the region will last until at least 2026, when Qatar and the United States can increase sufficient capacity for hydrocarbon production.
According to Bjarne Schildrop, Skandinaviska Enskilda Banken (SEB) analyst quoted in the article, “The race to replenish the EU’s natural gas reserves has already begun.” He also noted that the positive situation for fuel sellers will continue for at least one more year.
According to Bloomberg analysts, if LNG prices in the European Union rise to €210 per MWh again, Europe will face a sharp economic downturn rather than a recession.
Formerly Die Welt newspaper knowledgeableGermany’s gas austerity plan was unsuccessful due to the onset of severe cold weather. According to the publication, for the first time this winter the temperature in the country has dropped by more than 1% per day and frosts have affected fuel consumption.