Europe’s double standards in securing LNG shipments
Natural gas is the cleanest fossil fuel; its CO2 emissions are about half of that of coal and just one-third of brown coal emissions. Replacing coal with gas reduces total emissions by hundreds of millions of tonnes annually in Europe. Consequently, natural gas is widely used for heating, cooling, electricity generation, creating indispensable materials (such as steel and concrete), and more. This source of energy currently represents around a quarter of the EU’s overall energy consumption. About 26% of that gas is used in the power generation sector (including in combined heat and power plants), and around 23% in industry. The remaining 51% is used in the residential and services sectors, mainly for heat generation in buildings.
The EU’s gas demand is around 400 bcm (billion cubic meters) yearly, and the entire continent (including the UK, Ukraine, and other non-EU members) requires a minimum of 550 bcm (data for the 2021 year). As domestic gas production is declining, and due to the current energy crisis, Europe is making effort to diversify its gas supply, reduce consumption across all sectors, accelerate the energy transition and implement carbon emission initiatives. All at the same time.
One might think that each step to phase out Russian fossil fuels brings the continent closer to a more secure and sustainable energy supply, in line with the objectives of the European Green Deal and the EU’s 2030 energy and climate targets. The reality couldn’t be further from the truth. Russian gas continues to flow to Europe in the form of LNG (liquified natural gas) and Europe is funding the Russian aggression in Ukraine.
LNG, proposed as an alternative to the Russian gas transfer, reveals that Europe can afford only an ad-hoc established energy security strategy and a reactive rather than proactive approach. EU actions also clearly expose a fickle manner in dealing with previously established objectives of the climate change policies, and double standards when dealing with energy solidarity across the continent. The current actions are pushing the entire continent towards the possibly of a similar energy crisis in the future. Until Europe develops its own energy source (regardless of its type) and establishes a clear and long-lasting energy strategy, the continent will be subjected to dependency on external LNG providers with unexpected shortages, the possibility of supply chain cuts, or shifting political sides of the gas-producing states. In the unstable global situation and at the brink of decoupling of global energy supply chains and ongoing conflict in Ukraine, this doesn’t seem to be a wise approach.
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