Main points discussed:
- People in Europe are preparing for the winter ahead, irrespective of government measures to curb energy consumption.
- Although gas reserves are plentiful, the exploitation and monetisation of natural gas are capital intensive and infrastructure takes time to build.
- While there are alternative sources of energy to gas, they are not all aligned with the EU’s climate agendas.
- The EU target of 15% reduction in gas consumption is feasible; yet, there will be a divergence between countries to achieve this target due to their varying reliance on natural gas in their energy mix.
“Russia’s oil is in long-term decline – and the war has only added to the problem“, Dr Carole Nakhle, Jul 2022
“British government needs to move on to “war footing” over energy prices“, Dr Carole Nakhle, Aug 2022
“Europe’s energy crisis and Norway’s role in breaking the Russian monopoly“, Dr Carole Nakhle, Aug 2022