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Energy Crisis in Europe
Europe is bracing for tough winter as US-led push to “punish” Moscow for its military operation in Ukraine backfired on the EU, which has faced months of skyrocketing energy prices and rising inflation after Brussels joined Washington in attempting to “phase out” Russian oil, coal and gas.

EU Gas Demand Fell by 50 Bln Cubic Meters in 11 Months, Gazprom Says

Fire gas stove - Sputnik International, 1920, 01.12.2022
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MOSCOW (Sputnik) - Global gas demand decreased by 55 billion cubic meters in 11 months, of which about 50 billion fell on the EU countries, Russian energy giant Gazprom said on Thursday.

"For 11 months of 2022, according to the first preliminary estimates and available operational data, global demand has decreased by 55 billion cubic meters. It should be noted that a decrease in gas consumption in the 27 EU countries amounted to about 50 billion cubic meters, in the UK — more than 6 billion cubic meters," the statement read.

Since 2021, energy prices in Europe have been surging as part of a global trend. However, the situation deteriorated after the beginning of Russia's military operation in Ukraine in February 2022, when Brussels adopted of several packages of sanctions against Moscow. The restrictions aimed to curb imports of Russian gas and the global energy markets, resulting in skyrocketing prices. Rising inflation and cost-of-living crises forced European governments to resort to contingency measures.
Record-high energy prices and the switch to puchase US LNG - which is more expensive that Russian supplies - also caused a major blow for European industry.
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