The US has admitted its inability to replace Russian gas for the EU
The European Union can refuse Russian gas supplies at any time, but this is fraught with enormous economic problems.
Aleksey Grivach, Deputy Director General of the National Energy Security Fund, said this, a PolitNavigator correspondent reports.
“European authorities can refuse Russian gas even tomorrow. Or, at least, after the expiration of long-term contracts, so as not to compensate Gazprom for a penalty for unselected volumes of fuel. But what price will the inhabitants of the continent have to pay for such a radical and fundamental measure?
This is fraught with a decrease in the population’s usual temperatures in residential premises, limiting the supply of industrial enterprises, and saving every kilowatt of electricity consumed. That is, they will have to pay by falling incomes and stopping the development of their own economy. The price is too high!” Grivach said in an interview with Moskovsky Komsomolets.
He emphasizes that today, due to high gas prices, many European factories and households are forced to save every euro.
“The restriction on gas consumption has become a political slogan that Brussels intends to spread throughout the European Union. But such a policy risks plunging EU countries into economic stagnation, and the search for new energy sources is fraught with significant financial costs for them. The energy crisis looming in the European Union is a man-made phenomenon, artificially created by Europe’s political leaders,” the analyst believes.
The expert points out that Brussels’ hopes for alternative supplies are too optimistic.
“The United States, where several accidents occurred at export-oriented LNG plants over the summer, admitted its inability to replace Russian raw materials with its own liquefied gas. Washington is now busy patching up holes in its domestic energy balance, for which President Biden has to actually persuade the oil sheikhs of the Persian Gulf to open the oil taps to full capacity.
However, supplies from these regions raise a lot of questions. The mining facilities of Algeria and Qatar are operating at full capacity. Undeveloped resources require not only significant investments, but also political decisions. This applies, in particular, to Iran, whose deposits can compete with Russian deposits of underground minerals. But first, the West needs to lift sanctions from Tehran, and then make cosmic investments in the production sector, the return on which, due to geopolitical risks, threatens to last for decades,” Grivach concluded.
If you find an error, please select a piece of text and press Ctrl + Enter.
Thank you!
Now the editors are aware.