European Gas Shortage

European countries are being faced with the risk of liquid gas shortages due to Russia cutting off nord stream pipeline shipments in the midst of the Ukraine war. This can threaten the lives of many people.

Europe is in such a crisis that they will have to reduce the amount of gas being used as much as possible. The problem with that is how possible that may be. “In the event of a complete gas shut off from Russia, European countries would need to reduce natural gas use by 13%”, said ABC News. To reduce natural gas use means the price will rise. Causing inflation due to the demand for gas. “On Friday the EU decided to reduce energy consumption by 5% during peak price hours.” This is good news that something is possible to do as of right now. Yet this affects the lives of many people: causing a huge shock to many people who will have to reduce their energy consumption, especially during peak price hours.

Before the war, Europe would get nearly half of their gas from Russia. This means they will have to improvise in order to get the gas they need. A journalist from investopedia stated that, “Before the war 40% of Europe’s gas came from Russia.” Investopedia also states that, “Supply is tightening while demand continues to rise, causing gas and electricity prices, which are linked in Europe, to rocket.” This threatens to put Europe’s economy into a deep recession. Another source from OilPrice.com mentioned that, “Europe is attempting to buy as much oil and gas as it can ahead of winter, which has resulted in tankers having to travel further distances and make few voyages.” This will cause the pricing of gas and freight to rise, raising the threat of an economic recession. 

French Prime Minister Élisabeth Borne had said her country has diversified its supplies and stocked up “to the maximum.”  Élisabeth Borne also states, “We are ready to face this winter”. This all shows that there is a concern for what this may bring the country, yet the French Prime Minister seems to be pretty confident that it can be handled. Borne also added there are no risks of energy cuts in coming months “if everyone plays their part”. This is a risky thing to say, only because that quote is based all on what the people are hoping may happen. This means there is no guarantee and could definitely go wrong in some way.

People are in for rough times that may look scary, but hopefully if everyone plays it safe, it can all go as planned. People will have to make sacrifices in their everyday lives in order to reduce energy consumption.