If Russia turns off the pipe
Japan will cede gas orders to the EU
02/16/2022, 01:20 am
The EU is not tired of threatening Russia with dire consequences if it invades Ukraine. In return, Moscow may reduce its gas supply. The EU Commission has been preparing the case for several weeks.
According to Commission Chairman Ursula von der Leyen, the European Union has taken comprehensive precautionary measures in the event of a Russian gas cut. Van der Leyen said the EU Commission had spoken to key liquefied gas exporters such as the United States, Qatar and Egypt in recent months to increase their supply in order to mitigate the risk of disruption.
In addition, important liquefied petroleum gas importers such as Japan and South Korea were negotiated to place their own orders at the EU. For example, liquefied gas ships from Qatar could be shipped to Europe instead of Japan. In January, thanks to these efforts, the EU imported a record amount of about ten trillion cubic meters of liquefied gas, said Van der Leyen.
In the current context, the EU has expanded its pipeline network and increased the capacity of liquefied gas terminals since Russia annexed Crimea in 2014. “Our models now show that we are on the safe side if supplies (from the Russian gas company) Gasprom are reduced or gas supplies fall further,” said Van der Leyen. However, if supplies are completely cut off, emergency measures still need to be taken.
Hope for spring rest
The EU is hanging on To a large extent from the Russian gas supply In the distance. A Russian supply outage – for example in response to Western sanctions in the Ukraine conflict – could therefore severely affect the group of states. The European Union currently supplies about a quarter (24 percent) of its energy needs through gas, of which 90 percent is imported, said van der Leyen. About 40 percent of imports came from Cosprom.
Van der Leyen said there was a “clear risk” of cuts in Russian gas supplies to the EU during the Ukraine conflict. However, spring is not far off. Then, with rising temperatures, the energy demand for heat will decrease and the situation will relax. He reiterated that Russia’s military occupation of Ukraine would require retaliation in the form of sanctions. “We worked hard with our partners to respond within a few days,” said Van der Leyen.
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