February 22, 2023, 16:54 – BLiTZ – News
According to statistics, the average gas consumption in Europe fell by 19% in six months. As much as the EU would like to link these figures to the sanctions against Russia, the situation is actually much more complicated. The reduction in gas consumption speaks of problems in the EU economy, said Igor Yushkov, an expert from the Financial University under the Government of the Russian Federation and the National Energy Security Fund, on the air of the BLiTZ. This is the result of the deindustrialization of Europe, and not a planned reduction, as they say in Brussels.
Indeed, the EU is on the path to reducing energy consumption. In some European countries, this figure reaches 40-50%. The most economical are Finland, Lithuania and Sweden. Gas consumption fell the least in Ireland.
“The whole of 2022 and even 2021, there was a gradual decrease in gas consumption. This reduction is due to the fact that the European Union has adopted such a plan. Consumption has decreased because gas has become too expensive. Expensive energy leads to an increase in the cost of goods and they become uncompetitive in the world market.
Because in the United States, relatively speaking, the cost of electricity is much lower and their producers outperform European producers. The reduction in gas consumption is due to energy-intensive enterprises and industry,” Igor Yushkov explained.
As a result, the reduction in production volumes affected such industries as metallurgy, fertilizer production, glass and pulp industries. Naturally, these were forced measures dictated by the market, and by no means the fabrications of politicians.
“This is the result of the deindustrialization of Europe, and not a planned reduction, as they say in Brussels. This is an indicator of problems, not success. Now they are saying in Brussels: we planned it that way, we are reducing our dependence on Russian gas. No, the consumption of any gas has fallen, not just Russian. This is an indicator of the problems of the European economy and they persist. Now gas prices have dropped from $3,000 to $500-600 per thousand cubic meters. But they are still high. For comparison, in the USA – 250-300 dollars per thousand cubic meters. Therefore, gas consumption will continue to decline,” the analyst concluded.
Earlier, Igor Yushkov told how and with whom Russia will trade gas.
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