On March 27, the Ember Energy Research Organization announced that the European Union (EU)'s imports of Russian gas will increase by 18% in 2024, despite the bloc's plan to eliminate energy from this country by 2027.
By 2024, EU imports of Russian gas will increase by 18%. (Source: Innovation Origins) |
This comes as the EU plans to increase its liquefied natural gas (LNG) import capacity by 54% and as member states look for alternative gas suppliers to Russia.
The expansion comes despite EU gas demand remaining stable until 2030, the researchers said, warning that the expansion could lead to overcapacity, with fossil gas supply expected to exceed demand by 26% by 2030.
This overinvestment now amounts to 131 billion cubic metres, equivalent to the total annual gas consumption of Germany, France and Poland.
Dr. Pawel Czyzak, an analyst at Ember, criticized that the EU is still importing Russian gas as “a scandal”.
Instead of investing in real and effective alternatives such as renewable energy to cut imports from Russia, member states are pouring money into expensive LNG capacity that the bloc will not even use, he said.
Analysis shows that after years of price volatility due to the special military operation in Ukraine, gas prices have skyrocketed by 59% by 2024.
Escalating geopolitical tensions have raised concerns about the bloc's reliance on US supplies, as the country expands its LNG export capacity.
“Although the EU has proposed funding foreign LNG infrastructure and signing long-term LNG contracts to reduce dependence on Russian gas, the strategy could increase dependence on potentially unreliable suppliers,” the experts added.
Source: https://baoquocte.vn/quyet-liet-roi-xa-khi-dot-nga-nhung-eu-van-tang-mua-hang-chuyen-gia-chi-trich-chau-au-vi-don-tien-cho-lng-309163.html
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