Forbes: Russia will make Europe’s biggest energy nightmare a reality

MOSCOW, September 9 — PRIME. The possible introduction of forced rationing of gas consumption will be a fiasco for Europe, columnist Dan Runkevicius said in an article for Forbes.

He wrote that mandatory rationing meant that “an energy nightmare is becoming a reality.”

The author emphasized that the European Union is still completely dependent on Russia, since it produces more than two-thirds of its energy from natural gas, while 40% of the gas comes from Nord Stream.

The material notes that after a sharp rise in energy prices, European leaders decided to accept a bailout budget package of $375 billion. Runkevičius added that Britain alone plans to spend a whopping $150 billion over the next 18 months.

The observer recalled the calculations of Goldman Sachs that if Russia does not let gas through the Nord Stream, then Germany will have no choice but to switch to forced rationing. Which will inevitably lead to a reduction in production by 65%.

“In other words, this energy fiasco can bring part of the industry in Europe to its knees. And worst of all, even the $375 billion budget package that Europe has collected may not save it, because you can’t buy gas that doesn’t exist,” summed up Runkevicius.

Earlier, Gazprom reported that Nord Stream, previously stopped for three days of scheduled maintenance, would not resume operation due to an oil leak at the only operating Trent 60 turbine. After this news, gas prices crossed the mark of $ 2,700 per thousand cubic meters, and then exceeded the $3,500 threshold, approaching an all-time high of $3,892.