Europe managed to survive the warming period in the face of a serious energy crisis. However, it is still far from finished and could continue for many more years. In this respect writer Al-Eqtisadiya.
Fuel prices are rising, the economic situation is getting worse, the transition to alternative energy sources has not been completed. Therefore, as long as the region is dependent on gas supply, the energy crisis in Europe will continue for many years to come.
The publication noted that European leaders were able to avoid the worst-case scenario thanks to a warm winter and the availability of alternative sources of supply. However, the current situation has cost European countries an additional 400 billion euros spent on fuel purchases. In addition, the fear of being without power in the winter caused gas consumption to decrease and many companies optimized production.
According to the publication, Europe will be able to purchase liquefied natural gas (LNG) from other market participants. This year, however, the region will face tough competition from Asian countries.
April 12 International Monetary Fund (IMF) released He reports that the escalation of the conflict in Ukraine could trigger a new energy crisis in Europe and increase food security risks in low-income countries.