Europe, deprived of enough natural gas, wants more coal from Russia. This was reported by Russian media, citing Bloomberg sources. The energy crisis in the Old Continent is growing and gas prices have risen sharply.
Today, the price of November gas futures, according to the Dutch index TTF – the most liquid European hub, broke a new record, reaching 1,073 USD per thousand cubic meters.
Due to gas shortages: Europe is launching coal use
This is a direct hit on all plans for a “green transition”
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“Electricity producers in Europe are forced to ask Russia for more coal to alleviate the energy crisis. Because winter is approaching and record high gas prices are reducing profitability,” representatives of two Russian coal companies told Bloomberg.
Europe has largely thrown away its coal over the years in an attempt to achieve the much-coveted “green” electricity production. Now, however, the supply crisis is being felt in full force.
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The European energy crisis will affect the whole world
The shortage will get much worse when temperatures drop
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According to the press secretary of the Ministry of Energy of Russia, coal exports to Europe, including for electricity production, will not change until the end of the year and will amount to about 48 million tons. In the first half of the year it even increased by 2.4% – to 22.5 million tons.
“If all European utilities switch to coal, it will lead to a huge increase in their demand, which Russia cannot provide in such a short time,” said Natasha Tirina, chief analyst at Wood Mackenzie in Houston.
According to the expert, Europe will need supplies from other countries, such as the United States. The problem is that the situation there is deteriorating and is similar to the European one.
