July 3, 2022

NasdaqNewsUpdates

Complete News World

When faced with tensions, can we do without the Nord Stream II gas pipeline?

On the other hand, the most reliable is the reduction in its gas supply“Judges Professor Adele L. Kammal. “Today is Russia Gas supply is 25% less than the previous year. It continued to adhere to long-term contracts but subtly reduced supply. With the intention of putting pressure on twenty-seven, it did not default on contract distribution, but did not respond to Europe’s additional demand.“, He explains.

Europe is interested in diversifying its imports

So Europe could do better and truer without the famous gas pipeline, but there is very little room for maneuver. It is impossible to do without Russian gas.

Europe is in turmoil as it faces Russia’s grip on the European gas market.

A clean cut threat is certainly not on the agenda, but nothing can stop Russia from cutting off supplies in the short and short term, enough to accommodate the instability of the union.

However, Europe has the potential to reduce this threatening power of the superpowerIra : “If tensions persist, Europe is keen to reduce its dependence on Russia’s gas, especially through deals with other countries in the world on the liquefied natural gas (LNG) market. By investing in this energy, it will be possible to have less intentions towards Russia, but to have larger gas reserves.“.

In fact, energy prices have risen sharply in recent months, helping to mitigate winter winter damage. But Europe’s reserves have been hit by Russia’s failure to meet additional demand as usual: “European gas stocks were particularly low this year. They were 50% in January, up from 70-75% in previous years. This put pressure on European market prices. If winter had been cold, consumption would have been higher, we would have run out of stock and figures would have exploded“, Adds Adele L. Kammel.

See also  Emmanuel Macron was targeted by projectiles during the voyage (video)

Belgium in all this?

Belgium nuclear power is expected to end in 2025. Nevertheless, it has chosen to invest in gas to offset nuclear losses, by 2050 being the time to transition to carbon neutrality. Two gas power plants are to be built. Wilwort and Avirs.

It is time for us to switch to renewable energy, which will increase the demand for natural gas in the coming years.

However, the international environment, NATO / Russia tensions and gas prices are still speculative. If Russia decides to block the valves, Belgium will have to change “only” 6% of its gas imports. Weak bias on the Russian Republic but prices will continue to rise in all European countries. Since the European energy market is relatively homogeneous, the increase will affect all twenty-seven.