European Commission Director-General for Energy Ditte Juul Jorgensen said on Monday that the continent is preparing for energy market instability this winter, but that the bigger challenge could come in future winters
WASHINGTON (Pakistan Point News / Sputnik - 28th November, 2022) European Commission Director-General for Energy Ditte Juul Jorgensen said on Monday that the continent is preparing for energy market instability this winter, but that the bigger challenge could come in future winters.
"It will be a challenging winter, but I think we have done as much as we can in terms of preparing," Jorgensen said during an interview with The Washington Post. "I think a bigger challenge than these coming months and this winter will actually be the winter of '23/'24, because we see that the global energy markets, and the global gas markets in particular, remain somewhat imbalanced."
There will be challenges in filling energy storages during the next filling season in March and April of 2023, Jorgensen said.
Europe used to supply approximately 40% of its gas from Russia, compared to just 7% this month, Jorgensen said. However, Europe has also seen an increase in supply from other partners, including the United States, Jorgensen said.
Europe remains engaged in negotiations to set a price cap on Russian oil as part of a US-led effort to reduce Russia's revenue from energy sales, Jorgensen also said.
