For many decades depending on Russian gas, it makes it difficult for Europe to find solutions for the prolonged energy crisis when Moscow cuts the supply.
Russian Energy Group Gazprom today confirms the gas flow through Nord Stream 1 to Europe from August 31 to September 3 for maintenance, causing Europe to once again have to speculate whether the pipe has started.
With a decrease in consumption this year, Europe is on the momentum to ensure adequate gas in this winter, avoiding the risk of burning gas according to norms.
Even when Nord Stream 1 reopes on September 3 as Gazprom's commitment, very few politicians and Western economists think that Europe will receive enough Russian gas next year, when the confrontation is confronted,
Gazprom also announced that it would reduce the supply of gas for the French Energy Group because of the controversy about the contract, from 17% of the total annual supply for the company to less than 4%.
The valve system at the exploitation system belongs to Bovanenkovo gas field, Russia in May 2019.
The gas pipeline from other areas other than Russia is operating at full capacity, causing Europe to depend on the source of natural liquefied gas (LNG) purchased from more remote sources.
Europe will have to go through a difficult period for 5-10 years, Belgian Prime Minister Alexandre de Croo, one of the continent's large liquefied natural gas importers, warned.
Producers of gas -burning gases like Qatar or the US need at least two years to increase production to meet the growing demand of Europe.
Some countries rich in gas such as Canada cannot increase production due to the Law on Climate Change limiting CO2 emissions, including the ban on the construction of new production facilities in Qebec, where large gas reserves.
In the short term, Europe must buy LNG in the spot market to solve the shortage of gas, mainly from Asian partners, which have signed a long -term agreement with American manufacturers and resell lots of lots.
Over the past 6 months, Europe has become a hot spot for gas demand, James HuckstepP, analyst at S&P Global Commodity Insights.
Although Europe may not exhaust the future gas, experts are concerned that high energy prices maintained for a long time will challenge political stability and economic recovery of the region.
Helen Thompson, a professor of political economics at the University of Cambridge, said the energy shock has shown how Europe has been dependent on Russian energy in the past decades.
These difficulties are not unexpected, but only Western politicians who are racing to find energy outside Russia now realize that they lack LNG or oil supply, she said.
EU countries are discussing proposals on the electricity ceiling of the bloc.
Germany said it would restart the coal power plants in the winter to reduce the demand for gas and are reviewing the decision to close the last three nuclear factories in 2022. However, Berlin has not yet abandoned the law of dots
Therefore, Berlin may face many difficulties to fill the gas warehouses after this winter, according to Sigmar Gabriel, former German Economic Minister.
Since the Ukrainian conflict has exploded at the end of February, Energie Baden-Württemberg AG (ENBW) is the only German energy company signing LNG contract with the US partner.
Russian gas transferred pipes for Europe.
Although Europe can easily overcome poor countries to compete to buy gas, efforts to store Japan and Korea before winter, as well as China's economic recovery needs after the pandemic.
Even if the supply is more abundant in the short term, the congestion at European re -gasization facilities will limit the amount of LNG that he and other Western European countries can receive, according to the consulting company.
Germany has not been able to receive shipments from abroad.
These ships have a capacity of about 5 billion cubic meters per warehouse, which means they are not enough to replace half of the gas imported through the Nord Stream 1 pipe, which is pumped into Germany 55 billion cubic meters per year.
Mario Levesque, president of the Utica gas exploration and production company in Quebec, said the company would take at least 18 months to buy gas shipping to Europe.