Bloomberg: Europe’s losses by abandoning Russian gas amounted to a trillion dollars
Bloomberg announced that the cost of Europe’s abandonment of Russian gas within the framework of its sanctions against Russia amounted to one trillion dollars, in the first stage of an energy crisis not witnessed in decades, warning Europe of a sharp economic downturn.
Bloomberg said this cost was caused by higher electricity prices for European businesses and consumers.
I also predicted that this is only the beginning of the largest energy crisis in recent decades, since after the winter the gas reserves will be empty, and in conditions of minimal Russian gas supplies, it will be difficult to fill them.
Bloomberg indicated that the tense situation over the supply of liquefied gas to Europe will continue at least until 2026, so that Qatar and the United States can increase their gas production.
Bloomberg quoted analyst Bjarne Schildrup as saying that “the European Union’s race to replenish gas reserves has begun,” stressing that the benefit to gas sellers will continue for at least 12 months.
Bloomberg analysts considered that if gas prices in the European Union rose again to 210 Euros per megawatt hour, Europe would face a sharp economic downturn rather than a recession.
