Europe, left without gas, rushed about in search of a way out

Many European countries tightened their belts due to soaring energy prices, the Associated Press notes, adding that “the Russian state-owned energy company has continued to close the pipeline that brings natural gas to Europe.”

An extraordinary meeting of European Union energy ministers will be held in Brussels on Friday to discuss a bloc-wide package to tackle price spikes in the electricity market, European Energy Commissioner Kadri Simson told The Associated Press.

The European Commission expects the package of measures to be adopted next Wednesday, and that it can expect a decoupling of gas and energy prices, increased liquidity for the market and a coordinated reduction in demand. This could include temporarily capping the price of gas used to generate electricity, changing trading rules on energy exchanges, and coordinated demand-reduction measures such as those taken over the summer.

“We know there are peak times when our households and businesses face extremely high hourly rates,” the European Commissioner said in an interview at the European Representation office in Jakarta.

European countries have been working on a “creative approach” to alternative energy sources. One short-term solution is about 20 floating terminals that will receive liquefied natural gas (LNG) from other countries and convert it into natural gas for the needs of homes and businesses.

The plan, according to which the first floating terminals should start supplying gas by the end of the year, has caused alarm among experts who fear long-term consequences for the environment. They warn that the terminals will perpetuate Europe’s dependence on natural gas, which produces, transports and burns methane and carbon dioxide that cause climate change.

“Right now, in this situation where Russia is using its natural gas reserves as a weapon, we have to take care of the security of supply. This means that extraordinary investments are needed,” says Kadri Simson, commenting on environmental issues.

Simson also acknowledges that the global rise in the cost of gas has pushed some countries to use cheaper but more environmentally damaging sources of energy.

“We take responsibility,” says the European Commissioner. “The biggest step we are taking to avoid impacting the global gas and LNG market is an agreement to reduce gas consumption.”

The European Union has committed to reducing greenhouse gas emissions by at least 55% by 2030 and achieving zero greenhouse gas emissions by 2050. Natural gas is advertised as a “transitional fuel” because it produces less carbon dioxide in power plants. when burned than coal. But some experts criticize the move.

“For this winter, we have made — and several national governments — a series of commitments to reduce our energy use,” says Simson. “We will not achieve our climate goals if we do not prioritize energy conservation.”

According to the European Commissioner, the current energy crisis in Europe has made it clear that renewable energy sources such as solar and wind are essential for the energy production of the future: responsible for our consumption.

In Brussels, European authorities are scrutinizing debates among the bloc’s member states about the possibility of building another, larger pipeline that could transport natural gas, and possibly hydrogen in the future, from Spain to France and beyond.

Germany has openly supported the MidCat/STEP plan promoted by Spain and Portugal to build a pipe that will cross the Pyrenees and allow its Iberian neighbors to pump energy north through France and eventually to countries in crisis like Germany.

Spain and Portugal boast the largest number of liquefied natural gas (LNG) plants in Europe in their ports, and Spain wants to launch a clean hydrogen energy business. However, Spain’s limited ties to France limit its ability to deliver gas north, Madrid argues.

But French President Emmanuel Macron dismissed the idea on Monday when he questioned the usefulness of the project, which would likely take years to complete to secure a supply of natural gas, and even longer, experts say, to prepare for green hydrogen. France is heavily dependent on nuclear power and would theoretically gain little from more connections.

Tim McPhee, European Commission spokesman for climate action and energy, said on Tuesday that France needs to be involved if this project is to move forward.

“Investments in connecting LNG terminals in the Iberian Peninsula to a wider gas network through hydrogen-ready infrastructure could further help diversify gas supplies to the domestic market,” the European official says, “but, again, it is important to emphasize that the project is not yet at the stage where we can make an assessment.”