Europe predicted the struggle for oil and gas for several winters

MOSCOW, 25 Sep — PRIME. The reduction in energy supplies due to sanctions against Russia and the closure of key pipeline gas export routes by Moscow will lead to the fact that Europe will be forced to fight for oil and gas after the coming winter and much longer, writes the American publication OilPrice.

According to analysts at the consulting company Energy Aspects, the current crisis is “a matter of more than one winter.”

Analysts warn that Europe will have to limit demand in order to be able to balance the market not only this winter, but next, and possibly the winter to come.

Specialists at the Bundesbank, Germany’s central bank, said in their monthly report this week that Germany, Europe’s largest economy, is already plunging into recession because of the energy crisis. This recession will deepen as winter approaches amid the ongoing gas and energy crisis.

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In addition, to prevent the collapse of German energy and gas suppliers, Germany decided this week to nationalize Uniper, the country’s largest gas importer.

Industries across Europe are being forced to cut or shut down production due to soaring energy prices, and several European industry associations say European Commission initiatives to lower energy prices and help households and businesses navigate the crisis are not enough to help them get through the winter.


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