Sergey Kolobanov, Deputy Head of the Fuel and Energy Sectors Economics Department of the Central Strategic Research Center, reported that he foresees a “price war” between European and Asian countries for the supply of liquefied natural gas. DEA News”.
“The liquefied gas market mainly operates on medium and long-term contracts. And suppliers are not interested in ending them: the reputation of a reliable partner is important to them. The volume of LNG that can be delivered on spot or short-term contracts is not that large – about 190 billion cubic meters (in regasified form) – and a price war with Asia is expected for these volumes, actively restoring the economy after these volumes. a series of deadlocks,” Kolobanov explained.
He explained that the main problem for European gas consumers is the unpredictable weather, while both hot and cold weather are the “enemy” for the European consumer. Cold weather means an increase in gas consumption to generate electricity for heating, and hot weather causes an increase in gas consumption to generate electricity for air conditioners.
Also, windless and hot weather does not allow wind generation to be used as a “green” alternative.
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