According to Claudio Descalzi, chairman of Eni, one of Italy’s largest oil and gas companies, the situation in the EU gas market remains unstable. The publication reports that askanews.
According to him, due to the decrease in Russian gas purchases, Europeans are forced to switch to more expensive LNG, and even temporary malfunctions cause price fluctuations. “The situation remains unstable. We are seeing fluctuations due to the switch to LNG, although storage facilities are full. Even temporary outages are causing concern,” said Descalzi.
He noted that Europe had to rapidly increase LNG imports due to a deficit of 150-160 billion cubic meters after Russia withdrew from the market. Descalzi added that oil demand continues to increase and will soon reach 102 million barrels per day. Coal consumption has increased due to gas shortages in Europe.
Blomberg agency recently suggested Solution to the energy crisis in the EU A crisis in industrial production could be a good help in maintaining LNG prices in the EU, according to Bloomberg columnist Javier Blas. According to the columnist, this could solve both the fuel shortage problem and its cost.
It was previously known that extreme heat happened Threat to global fuel supply.