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Bloomberg: Europe lost $1 trillion due to refusal of Russian gas

2022-12-18T18:23:43.527Z


Europe's rejection of Russian gas cost it about $1 trillion, Bloomberg reports, citing its own calculations.


According to the agency, the corresponding amount is received in connection with the increased price of electricity for European companies and consumers.

At the same time, it is assumed that this is only the beginning of a large-scale energy crisis, and after the winter, when UGS facilities are empty, it will be difficult to fill the storage facilities again with minimal supplies of Russian gas.

At the same time, the agency indicates that LNG supplies will not be able to correct the situation until at least 2026, when Qatar and the United States will be able to increase hydrocarbon production. 

According to analysts, if gas prices in the EU rise again to €210 per MWh

,

 then Europe will not just face a recession, but a sharp economic downturn.

Alexander Frolov, Deputy General Director of the National Energy Institute, commented on the situation with gas in Europe in an interview with the Economics Today FBA.

Source: russiart

All news articles on 2022-12-18

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