Europe may face energy shortages next winter after Russia’s invasion of Ukraine exacerbated the region’s energy crisis. The head of the International Energy Agency (IEA), Fatih Birol, warned of a crisis in the event of a severe winter.
“I am particularly concerned about the natural gas markets… if we have a harsh and long winter, we may face very difficult days,” Birol said at the IEA’s Annual Energy Efficiency Conference in Sonderborg, Denmark.
Birol said that while governments and companies are currently looking to provide alternative energy sources, it is equally important for governments to take steps to reduce demand.
According to him, if European consumers reduce the temperature in their homes by 2 degrees, 20 billion cubic meters of natural gas will be saved, which is equivalent to the volumes coming from Russia to Europe via Nord Stream 1.
Recall, according to the French Economic Analysis Council, a complete ban on energy imports from Russia can on average lead to a loss of gross national income of EU countries in the amount of 0.2-0.3%. This amounts to 100 euros per adult.