Europe who is the biggest importer of the Russian gas and energy supply remains desperate because of electric shortage. It is causing emerging threats and troubles as Russia stopped the supply of gas.
Gas shortage in Europe:
Europe is running out of the gas storage. Since the inception of Ukraine war entire Europe became engulfed under the gas and energy crisis. Because Europe is predominantly dependent on Russian gas supply, and stopping of it becoming headache for many European powers. Already war had caused serious collateral damage and economical disasters.The halting of gas supply is becoming problematic for many countries. It is rising inflation, and a sharp increase in energy prices. This also led to higher costs for consumers and businesses to function. Keeping these things in order, many countries showed defiance and opposition over the halt of gas supply and opposing Ukraine’s decision of stopping supply of gas from Moscow.
Growing Opposition in Europe over gas supply:
Recently, rows are brewing in Slovakia because of shutting down of Russian gas supply as they remain continue despite of war, it emboden enraged among Slovaks for Ukraine. And Robert Fico threatens Ukraine about a recent decision, because it costs them higher prices and possible expensive alternatives for gas. It increases transit fees and higher prices to import supply of gas which government could not easily afford. The gas would go through Ukraine, then Slovakia, before entering into Europe.
Keeping track of all changes and advancements, Robert Fico expressed reservations and differences over decision of Ukraine leaving it extra economic burden and pressure on Slovakia. He further said “In the fights of elephants, grass gets trampled, and we are not in the position to suffer such economic burden”. The decision of Zelensky would potentially deprive Slovakia of 500 million Euros in transit fees from other countries in the form of tax.
Furthermore, Robert Fico threatens Ukraine for harsh actions because of their decision of cutting off gas supply. And decided to launch retaliatory measures by cutting the electricity supplies to the Kiev, and restrict movement of Ukrainian refugees. In deepening of tensions between both nations, Slovakia is set to lose half of billions of dollars by cutting of transit fees because of cease of gas flow.
Major Countries affected by the gas shortage:
Previously, multiple Europeans powers were affected by gas and energy shortage. Because they sanctioned the energy companies of Russia restricting them to import gas supply in order to harm Russia’s gas and oil companies and cease from thriving the economy. Even some regions of Europe witnessed blackouts because of the shutdown of electricity. Germany who is the largest importer receives 55% of gas supply, and Italy who receives 46% of gas supply, stoppage of gas supply causing severe economical and social stability. Europe who imports 35% of natural pipeline gas before war, but now it is dwindled to less than 10%. But Russian gas continued to flow into the EU—through Ukrainian pipelines—with some of the best customers being Slovakia, Hungary, Austria, Greece, and France.
It is posing potential challenges to all these countries, related to economical growth as businesses and industries are halted because of insufficiency of electricity. It is also rising relentless energy prices which is affecting the flow of trade and supply chain. Furthermore, the increasing absence of electricity is breeding serious energy risk and possibility of blackouts.
There are a number of alternative sources of gas that European countries can import, including liquefied natural gas (LNG) from the United States, Norway, and Qatar. However, these sources remain expensive than Russian gas. In addition, there are also concerns about the environmental impact of LNG, as it is a fossil fuel. Moreover, many European countries are striving to develop alternatives such as non-renewable energy sources and nuclear powers. However, the problem still remains the same it costs a heavy price and is expensive compared to sources of fossil fuels.
