July 17, 2022 -- Speaking at the Aurora Spring Conference in Oxford Thursday, Shell CEO Ben van Beurden warned Europe may need to ration energy supplies in response to declining natural gas supplies from Russia.
He told attendants of
the energy conference: "It will be a really tough winter in Europe",
and warned the entire continent faces a "significant" rise in energy
prices. He went on to say that in the worst case, Europe would need to ration
its energy.
Some countries,
including Bulgaria, Denmark, Finland, the Netherlands and Poland have
already had their gas deliveries from Russia suspended for their refusal to pay
in roubles, and there are concerns the Nord Stream 1 pipeline
to Germany may not reopen following maintenance work that started
this week.
Last month, Germany
moved to the 'alarm' stage of an emergency plan to deal with gas
shortages. Italy has also reported shortages: local energy
giant Eni received only half of the gas it requested from its Russian
supplier Gazprom last month. Moody’s have warned that both
countries would be forced to ration gas supplies if the Nord Stream 1 pipeline
does not reopen as scheduled on July 21.
Europe's natural gas
stocks are currently 62.6% full; the European Commission have
mandated they should reach at least 80% capacity by November 1. There are
warnings achieving this target will be difficult if disruption to the flow of
Russian gas continues, including from European Union sanctions
imposed over the invasion of Ukraine.
Sources
- "EU energy rationing
can't be ruled out, Shell warns" — BBC News,
July 14, 2022
- Ron Bousso. "Europe
may need to ration energy this winter, Shell CEO says" — Reuters,
July 14, 2022
https://en.wikinews.org/wiki/Shell_chief_executive_warns_Europe_may_have_to_ration_energy
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