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The power disaster in Europe will final no less than 4 years if power costs stay at present ranges, Franco Bernabe, the top of the main Italian metal firm Acciaierie d’Italia informed La Stampa.
In his opinion, the scenario is just not going to alter essentially till new LNG vegetation are introduced into operation on the worldwide degree.
Towards the background of the aggravation of geopolitical relations between Moscow and Europe, Russian pure gasoline will nonetheless be in brief provide and the confrontation will proceed, Bernabe believes. In his opinion, the rise in gasoline costs, which will increase the price of electrical energy, was attributable to a mixture of provide and demand elements.
The technology of wind energy within the North Sea has decreased together with the technology of hydroelectric energy in Argentina and Brazil. On the identical time, power demand in Europe, Japan, Korea and China have soared towards the backdrop of the financial restoration after the pandemic, the top of Acciaierie d’Italia mentioned.
The LNG export capability might improve significantly solely by 2026.
“It took the European business 50 years to exchange oil and coal with gasoline. The EU Fee, disregarding the complexity of the undertaking, assumed that it will be potential to exchange gasoline with renewable power supply in simply ten years,” he complained.
The power disaster might have an effect on European nations within the coming months, because the scenario on the worldwide power market stays tense and Russia cuts gasoline provides to different nations. It is just heat winter that will save Europe from the looming disaster.
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