EU President Ilham Aliyev (right) of Azerbaijan and European Commission President Ursula von der Leyen attend a signing ceremony in Baku on Monday, and the EU imports gas from energy-rich Caspian countries. Agreed to double.

Photo provider: AFP

The head of the International Energy Agency said Europe needs to significantly reduce its natural gas consumption in the coming months to prepare for a “long and harsh winter.”

Although the European Union has made diversified developments away from its main supplier, Russia, shipments from the country remain highly uncertain and a complete blockade has not been ruled out, said Fatibilol, managing director of the IEA. A comment outlined the steps Europe must avoid for the major gas crunches this winter.

Birol’s warning comes from a severe heat wave exacerbating Europe’s worst energy crisis in decades, bringing excessive demand for gas-fired power to keep homes and businesses cool. Power is in short supply as warm air reduces wind power, rising water temperatures impede the output of nuclear power plants, and lower river levels impede coal supply to power plants.

Relying on an alternative gas supplier is not enough. Even if Norway and Azerbaijan ship as much as possible, shipments from North Africa are close to last year’s levels, and liquefied natural gas imports are already at record levels, Virol said. According to the IEA, we need to save another 12 billion cubic meters, or about 130 LNG tankers, in the next three months.

“The first immediate step to bring Europe’s gas storage to the right level before winter is to reduce Europe’s current gas consumption and put saved gas into storage, some of which It’s already happening because the gas prices are so high, but we need more, “he said. “Preparing Europe for the harsh winter requires significant additional cuts.”

“If Russia is completely cut off, there is an increased risk of supply disruptions,” Virol said, even if Europe could fill up to 90% of its storage. He said the risk would be even higher if Russia’s flow stopped before the region succeeded in securing its storage threshold.

On Wednesday, the EU plans a series of emergency actions across the economy to mitigate the effects of Russia’s potential gas outage. This includes reducing the use of heating and cooling and some market-based measures.

© 2022 Bloomberg LP

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