US News: IEA advises EU to save gas savings

Energy expert warns of consequences of an EU gas price lid

 Energy expert warns of consequences of an EU gas price lid An energy expert has warned against covering the price of gas in the EU. "It will not be easy to play around the energy markets," said Simone Tagliapietra from the Bruegel Bruegel Thinking Factory of the German Press Agency. He cited a risk that suppliers could send their gas somewhere else. © Frank Rumpenhorst/dpa A gas flame heats the tea water in a saucepan in the early morning. China currently consumed a little gas, also because of the strict corona restrictions there.

The international energy agency IEA advises the EU to save gas consumption to prevent empty storage and the risk of supply interruptions this winter. In order to keep the gas stocks at an appropriate level by the end of the heating season, demand must be reduced by 9 to 13 percent compared to the average of the past five years, according to the IEA gas market report presented on Monday. In the event of a low inflow of liquefied, this ensures that the gas stores remain filled at a level of 25 to 30 percent.

Damit Europas Gasvorräte über den Winter reichen, rät die Internationale Energieagentur zu Einsparungen beim Verbrauch. © Frank Rumpenhorst/dpa To reach Europe's gas supplies over the winter, the international energy agency advises savings in consumption.

without reduced gas consumption and in the event of a complete Russian delivery stop from November, the memory could drop to almost five percent if only a few liquefied gas is delivered to the EU. This would increase the risk of pension interruptions in the event of a late infringement. With a high inflow of liquefied gas, the memory remained filled with less than 20 percent after IEA analysis.

Pension for the winter: government starts gas auction model

 Pension for the winter: government starts gas auction model With a so-called gas auction model, the federal government of industry wants to provide incentives to save gas and to provide it for a fee, for example for heating. The model started on Saturday, the German Press Agency learned from the Ministry of Economic Affairs. In addition to the further filling of storage and the stronger use of coal for electricity generation, this is a third important component to improve the prevention for winter.

further cloudy prospects

"The invasion of Russia in Ukraine and the drastic reduction in natural gas deliveries to Europe damage consumers, companies and entire economies significantly- not only in Europe, but also in the threshold and developing countries," said the IEA director for Energy markets and security, Keisuke Sadamori. "The prospects for the gas markets remain clouded, not least because of the ruthless and unpredictable behavior of Russia, which has shaken the country's reputation as a reliable supplier." Everything indicates that the markets remain very tense until well into 2023.

The global natural gas consumption is expected to decrease by 0.8 percent in 2022, with a record pace of 10 percent in Europe and an unchanged demand in the Asia-Pacific region is expected. For the next year, an increase in global gas consumption is expected by 0.4 percent, but the prospects are affected with a high degree of uncertainty, especially with regard to the future procedure of Russia and the economic effects of the continued high energy prices, the IEA shared With.

The current gas crisis also leads to a long-term uncertainty, especially in developing countries, where, at least in the medium term, an increase in natural gas consumption was expected as a replacement for coal. In addition, international trade is under strong pressure due to the highly increased European imports due to the increased European imports.

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