Europe and its dependence on Russian gas
Romania says it has considerable reserves should it no longer be able to import natural gas from Russia.
Mihai Pelin, 08.03.2022, 13:50
Following Russia’s invasion of Ukraine, the West has
imposed a series of sanctions on Russia, but the situation of gas deliveries is
still uncertain. Russia could cut supplies at any moment in response to sanctions.
Russian gas covers 40% of Europe’s demand, but EU officials say this dependence
should be eliminated earlier than expected. Romania’s president Klaus Iohannis
said the focus should be on alternative energy sources and that his country
needs investment in renewable sources and the civilian nuclear sector. Romania
imports 20% of its natural gas from Russia, but the authorities say they are
preparing for the moment when Romania stops importing from Russia.
The price of
natural gas has hit record highs, going up 150% compared with last week, but it
is expected to grow more and even skyrocket in April, when countries begin to re-stock
for the following winter. This is why Romania should start making stocks of
natural gas as soon as possible, while also taking steps to boost domestic production,
says the president of the Intelligent Energy Association, Dumitru Chisăliţă:
15th April
will probably see a new threshold, because that’s when buyers are restocking. We
have to be aware that demand will increase, many will try to buy natural gas. This
will give rise to a competition between countries and companies, and prices
will increase dramatically.
Faced with such stark
warning and the growing cost of natural gas, the authorities say they have
reserve options to restore storage levels and diversify supply routes. Such
options are Azerbaijan, Qatar or the purchase of liquefied gas from the US via
a new transport corridor passing through Greek ports and the neighbouring
Bulgaria. Besides, Romania is Europe’s second biggest producer of natural gas,
says energy minister Virgil Popescu:
We are seeking to
diversify supply routes and gas producers, including liquefied natural gas, Azeri
gas, gas from other sources, from the US, Qatar, Saudi Arabia, the United Arab
Emirates, we’re in contact and I can promise you that we won’t have problems with
our natural gas supply.
The country’s agriculture
minister, Adrian Chesnoiu, also reassured the population that it needn’t worry
about their food supply, as there are sufficient stocks to overcome any crisis.
His statement comes as the price of wheat hit a 14-year high and a number of
European countries announced restrictions on their exports, especially grain,
because of the crisis in Ukraine. (CM)
