Politics

The European Union is too dependent on gas imports, the EC said

EC head Ursula von der Leyen said the EU is too dependent on gas

The European Union is too dependent on gas imports, and it is important to expand the number of its suppliers, said the head of the European Commission (EC) Ursula von der Leyen at the plenary session of the European Parliament.

According to the EC, the European Union is faced with a strong rise in prices for “blue fuel”, which spurred the rise in the cost of electricity, and this puts pressure on the economy of the Union.

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Gazprom performed long-term contracts with us, but did not respond to higher demand as it did in previous years. Europe is now too dependent on gas, and it is too dependent on its imports, “- said von der Leyen. According to her, one of the solutions to the current problem is” diversification of gas suppliers. “

The European Union is too dependent on gas imports, the EC said
The European Union is too dependent on gas imports, the EC said

That said, it is important to accelerate the transition to a cleaner energy system, but it is necessary to preserve gas as a “transition fuel”, added von der Leyen.

Gas prices in Europe have risen sharply in recent months. Back in early August, the estimated price of the nearest future on the Dutch TTF index was about $ 515 per thousand cubic meters, and by the end of September the figure had more than doubled. At the same time, since October 6, having reached a historical maximum of 1937 dollars per thousand cubic meters, gas prices began to decline. Now these quotations in Europe are kept slightly above 1000 dollars per thousand cubic meters.

Experts attribute the rise in gas prices in Europe to several factors: the low occupancy rate of European underground gas storage facilities (UGS), limited supply from major suppliers and high demand for LNG in Asia.

Source: BBC

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