Sound Familiar?

 

IEA chief warns Europe to prepare for total shutdown of Russian gas exports

"The International Energy Agency has warned that Europe must prepare immediately for the complete severance of Russian gas exports this winter, urging governments to take measures to cut demand and keep ageing nuclear power stations open."

Fatih Birol, the head of the IEA, said Russia’s decision to reduce gas supplies to European countries in the past week may be a precursor to further cuts as Moscow looks to gain “leverage” during its war with Ukraine.

“Europe should be ready in case Russian gas is completely cut off,” Birol told the Financial Times in an interview.

(Who could have possibly seen it coming? 🤔)

"Europe has reduced its reliance on Russian gas to about 20 per cent of total supplies since the Ukraine invasion, from about 40 per cent before, according to consultancy ICIS, but has already tapped most options to diversify supplies, such as seaborne cargoes of liquefied natural gas."