The face of Fatih Birol, CEO of the agency International EnergyHe issued a strong warning to the European Union countries against the consequences of restoring dependence on gas flows coming from Russia, considering that any step on this path represents an “economic and political mistake,” especially in light of the European efforts to control the sharp rise in energy costs.
Crisis pressures and options before the Commission
Following talks he held with the President of the European Commission, Ursula von der Leyen, Birol explained that the current tensions in the Middle East region prompted some parties to question the feasibility of returning to energy cooperation with Moscow.
The Executive Director described this trend as a repetition of previous “historical mistakes” based on mortgaging energy security with only one resource.
In a related context, according to what was reported by Reuters, the European Commission is facing increasing pressure to intervene. Von der Leyen pledged to present proposals to union leaders during their upcoming summit at the end of this month.
These proposals include options to reduce taxes and fees that burden energy bills, or open the way to increase government support directed to industries that consume energy intensively.
And earlier Manager confirmed International Energy Agency Fatih Birol said that global energy markets do not suffer from a shortage of supplies OilHe explained that the global supply of crude oil is available in sufficient quantities, while the real crisis lies in the logistics services associated with transportation, distribution, and supply chains.
Birol explained that the biggest challenge facing energy markets at the present time is the ability of countries and companies to… Oil transportation And petroleum products are efficiently transported to various markets, especially in light of geopolitical tensions and the disruption of trade and energy movement in some regions of the world.
The Director of the International Energy Agency indicated that Europe is required during the coming period to accelerate plans to develop the clean energy sector, in parallel with strengthening the capabilities of the traditional energy sector to ensure security of supplies and stability of markets, stressing that the balance between different energy sources has become a strategic necessity in light of the global transformations in the energy sector.
