5 European solutions to confront the "gas shock"

French Economy Minister Bruno Le Maire stressed, on Tuesday, that Europe has "solutions to become independent of Russian gas," adding that he wants to "accelerate work on them", to be able to "face the challenge of the winter of 2022-2023."

5 European solutions to confront the "gas shock"
Europe prepares for a winter without Russian gas


Le Maire stressed that gas prices will be "frozen" until the end of 2022 for consumers in France. During a trip to Normandy, he spoke about a series of European solutions to deal with the "gas shock" associated with the Russian conflict, and its consequences for the continent's economy.

The minister, who was speaking on the sidelines of a visit to the hydrogen production site of Air Liquide, said, "The dependence (on Russian gas) is not the same in all European countries. France depends on 20% of its supplies on Russian gas, while the European average is 40 percent. The 100 percent (...) and some countries are completely dependent on it (... such as Finland, which gets its gas supplies from 100 percent from Russia."

Le Maire pointed to the need for a "collective European solution" on this issue.

Among the solutions he mentioned, Le Maire estimated that it is necessary to "accelerate gas storage as of this summer to fill and store 90 percent of the needs needed to meet the winter of 2022."

"The challenge is not now. The challenge is the winter of 2022-2023," he added.

He continued, "The second possibility: collective purchases with the aim of obtaining reduced prices. The third is an attempt to diversify supplies from other producers."

Regarding the fourth possibility, the French minister mentioned improving the performance of liquefied natural gas stations, explaining, "There are seven in Spain and four in France, but unfortunately none of them are in Germany," noting that he "discussed" with the leaders of the ENGIE group on ways to "improve the operation" of the stations.

In the face of the "gas shock", Le Maire mentioned the last possibility, which is biomass and biogas, "two alternative solutions being produced in France that would help independence from Russian gas."

Post a Comment

© CNEWS - Latest World News. All rights reserved. Distributed by ASThemesWorld