The International Energy Agency sees European countries facing a serious oil and gas supply challenge in the coming months. It is said that the world has never experienced such an energy crisis.
“This winter will be very, very difficult in Europe,” warned Fatih Birol, director of the International Energy Agency (IEA) on Tuesday at an energy forum in Sydney. The energy supply is a big concern. “This can have serious effects on the world economy,” said the head of the interest group of western industrialized countries.
In Birol’s estimation, the world has never seen such a deep and complex energy crisis. He fears that “we may not have seen the worst yet.”
Closing of the Nord Stream 1 pipeline raises concerns about the energy crisis
Concerns of an energy crisis have recently increased after Russia closed the important Nord Stream 1 gas pipeline for routine maintenance work. Gas has not flowed through the pipeline to Germany since Monday morning. There are fears that the pipeline will not be put back into service after the work.
With regard to the expansion of renewable energies in order to reduce dependence on Russian gas, Birol referred to the importance of China. The People’s Republic controls about 80 percent of the global supply chain for solar energy. According to the IEA Director, this proportion is likely to increase in the coming years.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
