22.9 C
Brunei
Friday, December 9, 2022
22.9 C
Brunei
Friday, December 9, 2022
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    Europe faces ‘unprecedented risk’ of gas shortage, says IEA

    AP – Europe faces “unprecedented risks” to its natural gas supplies this winter after Russia cut off most pipeline shipments and could wind up competing with Asia for already scarce and expensive liquid gas that comes by ship, the International Energy Agency (IEA) said.

    The Paris-based IEA said in its quarterly gas report released yesterday that European Union (EU) countries would need to reduce use by 13 per cent over the winter in case of a complete Russian cutoff amid the war in Ukraine.

    Much of that cutback would have to come from consumer behaviour such as turning down thermostats by one degree and adjusting boiler temperatures as well as industrial and utility conservation, the group said.

    The EU on Friday agreed to mandate a reduction in electricity consumption by at least five per cent during peak price hours.

    Just a trickle of Russian gas is still arriving in pipelines through Ukraine to Slovakia and across the Black Sea through Turkey to Bulgaria.

    Two other routes, under the Baltic Sea to Germany and through Belarus and Poland, have shut down.

    Another hazard in the study was a late winter cold snap, which would be particularly challenging because underground gas reserves flow more slowly at the end of the season due to less gas and lower pressure in the storage caverns.

    European Union countries would need to reduce use by 13 per cent over the winter in case of a complete Russian cutoff amid the war in Ukraine. PHOTO: IDAHO PRESS
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