Russia accounts for more than one-third of the EUâ€™s supply, and its dominance is entrenched in the Baltic states, Germany, Italy and parts of southeastern Europe.
According to the information, Surging energy prices and fears of a Russian invasion of Ukraine are making European leaders think hard about energy security- particularly their decades-old reliance on Moscow for natural gas. Recently EU Energy Commissioner Kadri Simson said that, â€œitâ€™s important that contingency plans are ready for the worst-case scenarioâ€.
The crisis shows Europe’s vulnerability after years of limited progress in completing an â€œenergy unionâ€- a 2015 vision to allow affordable gas and electricity to flow across borders while diversifying suppliers and reaching climate goals. As renewables like solar and wind are slowly built up and coal and other fossil fuels are phased out, Europe still needs natural gas,and it’s dependent on Russia to get it.
As renewables like solar and wind are slowly built up and coal and other fossil fuels are phased out, Europe still needs natural gas, and it’s dependent on Russia to get it.
Later on in the Munich Security Conference European Commission President Ursula Von der Leyen said that, â€œThe 27-nation EU is â€œon the safe side for this winter but doing everything possible to get rid of this dependency. deliberately trying to store and deliver as little as possible while prices and demand are skyrocketingâ€.
That came into sharp relief as Europeâ€™s gas supply dropped and prices soared partly because Russia sold less gas than normal, squeezing households and businesses with rising costs. Russian Energy Minister Nikolai Shulginov also said that, â€œWe are aware about the low resources of gas in European countriesâ€. In a conflict, security analysts say Russia would have little interest in a total gas cutoff that would deprive it of revenue and give Europe a further incentive to find other sources of energy.
In a conflict, security analysts say Russia would have little interest in a total gas cutoff that would deprive it of revenue and give Europe a further incentive to find other sources of energy.
Further the former EU energy and climate commissioner who oversaw a proposal for more gas infrastructure, told to media that, â€œUnfortunately, energy interconnection in Europe is an unresolved issue. Itâ€™s in moments of crisis that we see the need for market integration and enough infrastructure from a security and procurement point of view.â€ Simone Tagliapietra energy policy expert said that, â€œsufficiently well a major bottleneck that we didn’t manage to solve.
Energy security disappeared. It was all about sustainability, decarbonization. Now we are seeing the great comeback of energy security as an issue in Europe. Itâ€™s up to them to decide, and thatâ€™s not acceptableâ€. As per as report fossil fuels policy campaigner for the Climate Action Network Elif GÃ¼ndÃ¼zyeli also said that, â€œIt is a little bit surreal and surprising. This approach of adding more gas to the grid to solve the energy supply issue is a little bit like adding another lane to a highway to solve the traffic issue: more cars come in and it gets even more complicated. Getting unhooked from Russia and hooked to the U.S., I donâ€™t think itâ€™s going to solve any of the EUâ€™s energy security issues. And it definitely doesn’t solve the climate urgency.”
Getting unhooked from Russia and hooked to the U.S., I donâ€™t think itâ€™s going to solve any of the EUâ€™s energy security issues.