The war in Ukraine is fueling fears of a natural gas emergency in Europe
Vice Chancellor Robert Habeck said it was “bitter” to turn to coal but that “in this situation, it is sheer necessity." The government plans measures to incentivize industry and utilities to use less natural gas.“Gas use must be further reduced, so that more gas can go into storage, otherwise in winter it's going to be tight,” he said.to conserve natural gas that would otherwise be burned to produce electricity.
Gazprom's steps have sent natural gas prices sharply higher after they had fallen in the wake of the winter heating season. That increases revenue for Russia at a time when it's under pressure from Western economic sanctions and adds to stress onGazprom's moves also can be seen as pushback against Western sanctions and as a deterrent to imposing further penalties. And bigger gas users have been put on notice that, just like smaller ones, they are not exempt from a possible cutoff.
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EXPLAINER: What's next after Russia reduced gas to Europe?Russia's war in Ukraine is fueling fears of a natural gas emergency in Europe. AP explains the key things to know about energy pressures, and how they could lead to an economic and political crisis next winter — or even sooner in a worst-case scenario.
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