How Europe could undermine Vladimir Putin’s plan to hold energy hostage

[ad_1]

European leaders have assessed various ways in which they can undermine Vladimir Putinof efforts to hold the continent hostage Energy in the midst of the ongoing war in Ukraine.

Russia gave the European Union (EU) issued an ultimatum earlier this month and said its Nord Stream 1 pipeline would not resume until sanctions are imposed. against the country they rose.

EU leaders joined other nations in condemning the Russian invasion of Ukraine and issued several crippling sanctions against key Kremlin-backed individuals, as well as the country itself.

This week, European Commission President Ursula von der Leyen lashed out at Moscow, saying it was “actively manipulating the gas market” but insisting the continent would “diversify away from Russian fossil fuels”.

Vladimir Putin and Ursula von der Leyen
Vladimir Putin and Ursula von der Leyen. The EU seeks to reduce its dependence on Russian gas.
Getty

In March, the president Joe Biden and von der Leyen announced a joint task force to reduce Europe’s dependence on Russian fossil fuels and ensure Europe’s energy security.

Now the race is on in Europe to mitigate the looming energy crisis leading some countries to experience winter blackouts or power rationing.

One way Europe could avoid crippling energy consumption costs would be to double the current global rate of energy intensity improvement, which means improving energy efficiency, to 4 percent, according to the International Energy Agency.

It could potentially avoid 95 exajoules, a measure of energy, a year of final energy consumption by the end of the decade compared to current rates. The equivalent of such a change would be the annual energy use of Porcelain and could reduce global CO2 emissions by another 5 billion tons a year by 2030.

It would represent a third of the total emissions education efforts needed this decade to get the world on the path to net-zero emissions by mid-century, as set out in the Net-Zero Emissions Roadmap that the IEA published in 2021.

These efficiency efforts could save households up to $650 billion a year on energy bills by the end of the decade.

The amount of natural gas the world would avoid using would be equal to four times what the EU imported from Russia in 2021.

This reduction could create 10 million new jobs in various fields, including retrofitting buildings for manufacturing and transportation infrastructure.

In a 10-point plan from the IEA, 10 options were given that could avert the energy crisis in Europe.

Firstly, leaders are encouraged not to sign new gas supply contracts with Russia, as this could give the EU the opportunity to diversify its gas supply and reduce levels of purchase or payment for Russian imports.

The IEA also calls on EU leaders to replace Russian supplies with gas from different suppliersincluding Norway, which would reduce its dependence on gas from Moscow.

EU leaders have also been told to introduce minimum gas storage obligations to improve market resilience, although the IEA says higher requirements to top up storage by 2022 would increase gas demand and support prices.

refocusing on new wind and solar projects could result in a reduction in gas use of 6 billion cubic meters (bcm).

Maximize generation from existing low-emission sources, such as nuclearwould result in a reduction of gas use for electricity by 13 bcm, according to the IEA.

The IEA said it will enact short-term measures to protect vulnerable electricity consumers from high prices. Doing so is estimated to lower consumers’ energy bills and make €200 billion ($203 billion) available to help vulnerable groups.

By accelerating the replacement of gas boilers with heat pumps, the EU could reduce gas use for heating by an additional 2 bcm in a year.

Accelerating energy efficiency improvements in buildings and industry could reduce heating gas consumption by a further 2 bcm and lower energy bills.

In a more direct plea to consumers, the IEA has asked them to lower the thermostat by 1 degree Celsius, saying it would cut gas demand by 10 bcm a year.

The IEA encouraged EU leaders to step up efforts to diversify and decarbonise as part of a long-term strategy that would reduce reliance on natural gas and reduce costly gas-intensive peak supply needs.

Danfoss, a global provider of advanced energy-efficiency technologies, has also offered plans that could save Europeans 12 billion euros ($12.18 billion) by upgrading 500 million radiators that waste energy unnecessarily.

speaking to news weekDanfoss President and CEO Kim Fausing said the Russian invasion of Ukraine has presented an incentive to reduce oil and gas consumption, but stressed that not everything can be about producing green energy.

He said: “They will also be extremely expensive and more expensive than necessary. We need to improve efficiency, and we need to get behind it and start investing in it with the same passion as we do.”

“Because energy efficiency and renewable energy go hand in hand. If we do both, we can reach those goals that are not easy goals that have been set, but we can reach them. It’s doable.”

He said how vital it was for countries to work together, adding: “There are so many fruits at hand and attractive steps we can take. But it is more intuitively difficult to see it. From the big picture. It is easy to understand the wind turbine, energy green, okay. Instead of touching your infrastructure, right?

“We have to make this happen if we want to get to the Paris Agreement, targets, to the right. And that’s what I hear all the time we do. And the news and the clarity is that this will not happen.

“It won’t happen if we don’t increase the efficiency of our system because we have to produce a lot of energy that we don’t really need and that’s why we have this slogan to say that the best and greenest energy is the energy that we don’t need.”

[ad_2]

Source link