Does the EU or Russia suffer more if they give up gas supplies from Russia?
Giving up Russian gas will affect both Russia and European countries – Photo: RT
EU faces energy crisis
April 11, Radio Russia Today Russia’s Ministry of Economy and Energy spokeswoman Susanne Ungrad said the country could completely cut its dependence on Russian energy within two years, the ministry’s spokeswoman Susanne Ungrad said.
According to Susanne, Berlin is aiming to end Russian oil imports by the end of the year, while coal could be phased out in the autumn and natural gas could be phased out by mid-2024.
Germany is not the only European country that wants to reduce its dependence on Russian gas. On April 2, Lithuania officially became the first EU member state to completely abandon its gas sources from Russia.
This information was published at a time when Moscow continued its military campaign in Ukraine, as well as the Kremlin announced new payment regulations for countries deemed “unfriendly”.
EU currently consumes about 400 billion m3 gas per year, of which 40-45% are imported from Russia. Experts say that if this supply is terminated, Western countries will face very heavy consequences at the end of summer and early autumn.
While it is now early April, the cold season has just ended and it is time to replenish reserves.
Although Europe is speeding up its efforts to find alternatives, experts say this is unlikely to happen in the near future.
Suren Kazaryan, an expert from the Big4 consulting firm, said that giving up gas from Russia would make the EU dependent on liquefied gas supplies from the US, as well as strategic reserves.
“The EU will replace the cheap gas going through the pipelines with the expensive option coming from the gas tankers of the other part of the world,” explained Big4 experts on Radio. RT.
A worker adjusts the valve at the Nord Stream 2 gas pipeline – Photo: CNBC
Russia also suffers
In the opposite direction, the Russian gas ban will have a significant impact on the Russian economy. Because this dependence is also reciprocal, when 75% of Russian gas exports in 2021, about 200 billion m33is for the EU market.
The main problem is that Russia does not have a good enough infrastructure to redirect supply to other markets.
Grandfather Marcel Salikhov – director of economics at the Institute of Energy and Finance Research – suppose, I think The EU is heavily dependent on Russian gas, but it also means that Russia is dependent on the EU market.
Russia has only a few alternatives in this situation, because Russia’s gas pipeline system is all directed to Europe, and it is difficult to adjust the supply direction to other markets. It is possible to turn to Turkey, but the country is consuming quite a lot of Russian goods and it is difficult to buy more, Mr. Salikhov pointed out.
Some argue that China can increase imports after giving up coal, or that the Indian market is full of potential. However, markets in Asia face technical difficulties.
The only gas pipeline to the region is via the Power of Siberia pipeline to China, but it does not connect to a centralized gas supply system, and it is difficult to move gas produced from Yamal. , Russia to China via the existing route.
That means Russia has to speed up negotiations with China about the Power of Siberia 2 line. But now everything is in the design process, and no specific content has been agreed between the two sides.
“Additional lines can be built, but it will need support from China. After that there is a period of construction and lengthy construction,” Mr. Salikhov said.
“Russia will lose financial revenues anyway, and Europe will lose electricity and gas. It is difficult to calculate who will lose more, but gas is bringing in a large source of revenue for Russia. Gazprom sells gas for about approx. $9.5 billion in January of this year alone,” Mr Igor Yuskhov – expert at Russia’s National Energy Security Fund – cited.
at Blogtuan.info – Source: tuoitre.vn – Read the original article here
