Thanks to European unity and an intelligent energy policy, the European Union is strengthening its energy independence. Last year, Russia stopped gas flow to Europe through the Nord Stream gas pipeline, which caused another spike in prices in the EU energy market.
Russia’s war against Ukraine threatens global security.
Russia’s energy blackmail, its impact on world food supplies, the global disinformation campaign and irresponsible nuclear rhetoric demonstrate its disregard for international norms and the well-being of billions of people worldwide.
This is stated in the statement of the Alliance on the occasion of the anniversary of the full-scale aggression of Russia.
In a statement, NATO members reaffirmed their solidarity with the government and people of Ukraine. The alliance pledges support as long as necessary to help Ukraine win.
Efforts to undermine European security
A significant market for Russian energy products was Europe. Gas exports from Russia brought about USD 55 billion in 2021. The majority of this sum is owed by EU nations, who have always been responsible consumers and have not racked up debt. Russia will lose tens of billions of euros annually, be obliged to cut output, and have to burn some of the gas as a result of losing the European market.
The International Energy Agency predicts that in the following three years, output losses from gas will total 500 billion cubic meters. Moscow won’t be able to immediately return its attention to “friendly” nations due to logistical issues. Moreover, gas was frequently sold to them at a “political” price rather than at the market.
The Energy Saving Plan, approved by the EU’s energy ministers in July, is already being carried out in Europe. The strategy calls for a 15% decrease in gas use from August to March.
Because of a failure in the compressor station, Russian Gazprom confirmed on September 2 that the Nord Stream gas pipeline had been shut down. Business employees purportedly discovered a lubricating oil leak in the gas pumping unit. The Russians blame Siemens and assert that troubleshooting is impossible because of sanction constraints.
Siemens explained that the found “malfunction” could be rapidly remedied and was not the reason the gas pipeline was interrupted. So, the decision made by Gazprom and the requests made by the Kremlin for the sanctions to be loosened is political.
Russia has frequently shown that it is willing to use energy as a weapon rather than a commodity. The closure of the Nord Stream was dubbed “evidence of Russia’s cynicism” and “further confirmation of the unreliability of the provider” by the European Commission.
European nations are constructing LNG terminals and leasing liquefied gas production terminals to diversify their energy sources. Russia’s full-scale invasion of Ukraine has sped up the phase-out of Russian gas in Europe.
Inflation and tariff increases have actually sparked protest attitudes in many European nations. Yet, actions are being taken in the EU to lessen the issue. Germany, in instance, lowers its value added tax on petrol purchases from 19% to 7%. In order to assist the energy business Uniper, which has been the victim of Russian gas blackmail, the government has allotted EUR 15 million. The government will make up for the tariff rise by funding household support programs. In addition, the majority of EU citizens support cutting off ties with Russia, sanctions, and government backing for Ukraine, even though they believe these measures fall short.
An epitaph on these attempts
Putin’s dictatorship attempts to destabilize Europe, aggravate differences, instigate conflicts, and undermine well-being by using energy as a weapon. Putin has put himself in a difficult situation by extorting the EU since losing the European market would devastate the Russian economy. This change phase is not simple nor easy for European nations, but governments and the majority of their public see the necessity of constraining Russia and removing its clout. Yet, the Ukrainian Armed Forces are the deciding element. They are crucial to the future of the Putin administration and the security of Europe, specifically as it relates to energy.
Image: Riviera LNG terminal