MOSCOW (Pakistan Point News / Sputnik - 16th July, 2022) Emergency measures on the reduction of gas consumption many help Europe to mitigate the decline of Russian fuel supply, an energy expert at the Russian company Vygon Consulting, Ivan Timonin, told Sputnik on Saturday.
"In the context of the policy of reducing Russian gas imports, the only solution for Europe in the short term may be to take emergency measures aimed at reducing (energy) consumption," Timonin said.
At the same time, the capacities for an increase in LNG (liquefied natural gas) supplies from alternative producers, like Qatar and the United States, will be available for the region no sooner than in 2025-2026, after the major projects, which are currently under construction, go into operation, the Vygon expert said.
"But Europe will have to compete with Asian consumers for concluding deals on higher (gas) volume levels," Timonin added.
The European Commission developed the REPowerEU initiative � the bloc's plan to phase out Russian energy sources and increase the use of renewable energy, as well as find other suppliers � after Russia launched its military operation in Ukraine. According to the International Energy Agency, the EU imported 155 billion cubic meters of natural gas from Russia in 2021, which accounts for 45% of the bloc's imports, and 40% of its total consumption.
