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THE International Energy Agency (IEA) stated that the Europe must prepare immediately for the total interruption of Russian gas supply in winter and urged countries on the continent to take measures to reduce demand and keep old nuclear plants open.
Fatih Birol (pictured), head of the IEA, told the Financial Times that Russia’s decision to cut gas supplies to European countries last week could be the harbinger of further cuts, in response to sanctions adopted against Moscow due to the invasion of Ukraine.
“Europe must be ready in case the Russian gas supply is cut off completely. The closer we get to winter, the clearer Russia’s intentions become. I believe the cuts are aimed at preventing the storage of gas reserves in Europe and increasing Russia’s leverage in the winter months,” Birol said, adding that gas rationing remains a real possibility if the Russians reduce exports even further.
Europe has reduced its dependence on Russian gas from 40% to around 20% since the invasion of Ukraine, according to consultancy ICIS. Countries like Sweden, Denmark, Italy, Germany, Austria and the Netherlands have come up with emergency plans to preserve gas supplies, but none of them include rationing.
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