Brussels:Europe is preparing for winter with partially filled gas storage facilities due to a significant decline in Russian gas supplies and rising prices, relying heavily on liquefied natural gas (LNG) imports and renewable energy sources. Philip Mshelbila, Secretary General of the Gas Exporting Countries Forum (GECF), discussed these concerns in an interview with Russia’s Vesti news portal.
According to Azeri-Press news agency, Mshelbila highlighted the reduction in gas consumption in Europe, noting a decrease from approximately 450 billion cubic meters to 380 billion cubic meters since 2022. This decline has prompted Europe to explore various options to mitigate the impact, including improving energy efficiency, increasing reliance on renewable energy sources, and considering nuclear energy as an alternative.
Mshelbila outlined three main strategies Europe is considering to address the gas supply challenges. The first is to reduce gas consumption by enhancing energy efficiency and substituting natural gas with renewable energy. The second involves using alternative pipelines, though this option does not suffice to replace the large volumes previously supplied by Russia. The third strategy is the increased use of LNG, with expanded regasification terminals in Europe primarily receiving gas from North America.
He also pointed out the sharp rise in gas prices and the challenge posed by entering winter with storage facilities filled to only 70% to 76% capacity. This shortfall, coupled with high prices, presents a significant hurdle for Europe as it braces for the colder months.
Mshelbila emphasized that the severity of the winter will be a critical factor in determining Europe’s ability to cope with the energy challenges. A mild winter could potentially allow Europe to manage the situation with ongoing imports, whereas a cold winter might lead to considerable difficulties. He concluded by noting the importance of observing how the situation unfolds in the coming months.