The “Bloomberg” agency claimed that after giving up on Russian gas, European nations spent a significant amount of money storing gas underground.
The source cited Bin McWilloms, an expert at the Brussels Analytical Center, who stated that the overall cost of the fuel reserves was $104.8 billion.
She emphasised that in order for the European Union to purchase as much gas from different sources as possible, ranging from Norway to the United Arab Emirates, it is necessary to fill up the tanks before the arrival of the cold weather.
And she warned that the spending of European countries to mobilize storage facilities will go over time in the upward direction: “The current costs are about twice the total amount provided by the United States as financial aid to Ukraine.
These are substantial sums, but there is a risk that they will increase in the upcoming year. ”
The cold winter can totally deplete the current reserves, according to “Bloomberg,” the head of the global energy market research at the UK Center, and nations will begin a new race to fill the tanks.
Following the sanctions on Moscow and the decision to stop using Russian gasoline, Western nations experienced a dramatic increase in energy prices as well as inflation.
The industry in Europe has significantly lost its competitive advantages against the backdrop of the increase in fuel costs, especially gas, which threw a shadow over significant portions of the economy as the United States and European countries suffered record amplification.
From Novosti.
Bloomberg: Europe’s decision to stop using Russian gas will cost a lot of money.
About Author
