EU to face gas shortage of 30Bln cubic meters: EU Commission President

By Al Mayadeen English
Source: Agencies
12 Dec 2022 17:04
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The EU President proposed three solutions to counter the potential deficit for the coming year.

EU President Ursula von Der Leyen

The President of the EU Commission Ursula von der Leyen said on Monday that the EU may or may not face a gas shortage of 30 billion cubic meters in 2023.

"I know from your datum that despite the actions that we have taken we might still face a gap of up to 30 billion cubic meters of gas next year," she said at a joint press conference with Executive Director of the International Energy Agency Fatih Birol.

A proposed solution to this challenge as suggested by von der Leyen involves securing the deliveries of liquefied natural gas which has this year amounted to 130 billion cubic meters.

Secondly, she called on all member states to agree on a proposed joint purchasing mechanism, noting that "every day of delay comes with a price tag."

Third, the bloc ought to prioritize the development of green energy sources as viable alternatives to fossil fuels.

We came a long way.

But our work won't be done until everyone has access to affordable, secure, clean energy.

Our focus:

Intensify outreach to global partners

Make joint purchasing a reality

Scale up, speed up renewables rollout

More investments in the energy transition pic.twitter.com/nfokYoRbTT
— Ursula von der Leyen (@vonderleyen) December 12, 2022

On November 18, von der Leyen said that the EU's current gas storage stands at 95% of full capacity and that current concerns are to ensure enough fuel is stored for next year.

"Our storages are full at 95% and we are safe for this winter. Our challenge will be next year’s winter," she said at the IISS Manama Dialogue in Bahrain.

She also claimed that the EU had replaced most of the Russian gas with imports from "reliable suppliers," but that statement is highly suspicious considering the current state of the bloc's major economies, including the UK.

On December 9, Gas Infrastructure Europe (GIE) data showed that the onset of winter temperatures has caused Europe to increase gas pumping from its underground storage facilities (UGS), with the level of gas reserves falling below 90%.

European UGS are full by 89.93%, according to the statistics, after losing 0.47 percentage points in a day.

Meanwhile, Rystad Energy analysts stated that the European Union increased its imports of liquefied natural gas in November prior to a spike in energy demand.

The company predicted that gas production from the UGS will range between 300 and 500 million cubic meters per day, as temperatures set to drop.