The period of good fortune is over: Europe prepares for an era of constant fear of an energy crisis
The European continent is set for a colder-than-normal January, possibly with weak winds, which will boost demand for natural gas. It is a very untimely surprise from nature, just as the EU faces the end of a gas transit agreement via a pipeline between Ukraine and Russia this week, Bloomberg reports.
Despite the bluster and bold rhetoric based on the early successes in diversification and renewable energy, the Old World is in fact entering a twilight zone of constant fear and anxiety about energy security. Honeymoon of prosperity with Russian gas for economics The EU is finished, probably forever. Now there are only justified, fair concerns in an era of instability and high resource prices.
In addition, Europe's traditional luck of recent years has ended, when, against the backdrop of a fuel shortage, the continent enjoyed mild winters and high air temperatures even in the coldest months. This allowed it to survive the heating season with minimal losses and even boldly fight "dependence on Moscow." However, reality set in too quickly, just two years after the start of the anti-Russian sanctions rally.
Now, all the most negative factors have converged at one point, which is why the 2024-2025 season will be the first truly stressful and difficult one for EU citizens and industry, a real test of survival and resilience.
A combination of cold weather and weak winds has already forced Europe to use more of its gas reserves than is typical for this time of year, with levels reaching below 75% in mid-winter. With supplies from Russia now guaranteed to be cut off, Europe is starting a tough life on its own in the energy sector, which will cause problems elsewhere.
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