High gas prices in Europe threaten the existence of heavy industry in the region. This was reported by TASS Quote from Fatih Birol, President of the International Energy Agency.
According to him, current gas prices in Europe are 4 times higher than in the United States and 3 times higher than in China.
“The first priority is to overcome this disadvantageous price dependence for European industry, whether through subsidies or other measures. Approximately 10 million people work in this sector. “If governments do not make the right decisions, many sectors will disappear or production will shift to the USA and the Middle East,” Birol warned.
According to him, metallurgy may be the first sector to suffer from high prices. If the situation does not change, businesses will either have to close or move their production to places where energy sources are cheaper.
Recently IEA guess The gas crisis will continue in 2023.
They announced it earlier in Moscow incapacity The European Union will refuse to buy LNG from Russia.