Region will struggle to survive winter and could run out of gas by March, says Aleksey Miller
Whole cities across Europe could freeze during the peak winter cold, the CEO of Russian energy giant Gazprom, Aleksey Miller, warned during Russia Energy Week on Wednesday.
According to his estimates, Europe could miss around 800 million cubic meters of gas per day, which represents a third of the EU’s total consumption. In the worst-case scenario presented by Miller, gas storage facilities in the region will only be 5% full by March.
“No one can guarantee that Europe will survive the winter with the current amount of gas reserves”, he said, adding that even if the block makes it through this heating season, the question is “What will happen with the download for next winter?”
The CEO of Gazprom recalled that Russia exports between 0.6 and 1.7 billion cubic meters of gas per day to Europe in winter.
Miller called the idea of gas rationing, which Europe is about to introduce, “doubtful,” highlighting the lack of an implementation mechanism.
EU faces unprecedented gas shortage
In September, European Commission President Ursula von der Leyen called on EU member countries to introduce “obligatory” curb the energy, calling the block to “flatten the curve” demand.
Last week, the International Energy Agency (IEA) announced that the EU will have to reduce its demand by up to 13% in the face of “unprecedented risks” gas supply this winter.
Although the EU has already filled its storage to 88%, the IEA said that 90% is needed in the event of further supply interruptions, a cold snap at the end of winter and a lack of LNG.
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