International Energy Agency identifies challenges Europe will face this coming winter

Director General of the International Energy Agency Fatih Birol identified three main factors that indicate that the upcoming winter will be difficult for the European Union.

Birol identified these factors as a European boycott of Russian gas, the return of China as a major importer and a modest increase in supplies, pointing to the need for Europe to reduce gas consumption.

He criticized Germany’s policy of phasing out its reliance on nuclear energy in light of the tense situation over the Ukraine crisis, but praised its efforts to expand wind and solar power plants.

The system of Western sanctions against Russia has led to rising prices for electricity, fuel and food in Europe and the United States, which has affected the economies of these countries and forced them to lose a large source of high-quality inexpensive gas.

Source: News