Foreign Policy: European Energy Crisis Hits Poor Countries Hardest

As a result of the European energy crisis, the poorest countries, unable to compete in LNG purchases with the European Union, which has experienced a serious shortage of electricity, have found themselves in the most difficult situation.

According to the American publication Foreign Policy, in almost a year since the beginning of the special operation in Ukraine, the volume of Russian gas supplies to the EU countries has almost halved due to the sabotage committed on the Nord Stream pipelines, a decrease in the volume of purchases by European countries, as well as a reduction in Moscow deliveries in response to the provision of military support to Ukraine.

Among other industries, gas is widely used in power generation. Thus, as of 2021, the share of gas-fired power plants was 34% of the total volume of European electricity generation. Due to the reduction in gas supplies from Russia, Europe had to switch to liquefied gas, which led to an increase in LNG prices by 1900% compared to the minimum recorded during the coronavirus pandemic.

Rising energy prices have not only had a tangible impact on European industry, but have also been a disaster for people in poor countries. Countries such as India, Brazil, Bangladesh and Pakistan are faced with the inability to provide fuel to their industry and the electric power complex, which has led to the need to cut off electricity to the population.

LNG suppliers ignore the needs of poor countries, preferring to supply it to more solvent rich countries. Moreover, previously concluded obligations under contracts for the supply of LNG to poor countries are often not fulfilled.

Comments

[tralflot1832]

Maybe it's time for Novatek to ignore Europe and switch to other countries? Otherwise, I look to Europe for its gas carriers, as they roam along the rails back and forth. The gas carriers are called Shastala.

[credo]

According to the American publication Foreign Policy,...

In the common people, this is called "crocodile tears."

First, they created a problem and put many countries in a difficult situation, and then some kind of well-fed and satisfied uncles stood next to the needy and asked them, "Well, how are you, poor fellows."

[evgen1221]

I've heard this song somewhere before. A! for sure, there was something about the famine in Africa. Poor Africa will be so hungry, so hungry, so all the grain has to be shipped to Europe. ))))

[rotmistr60]

And Europe cares about poor countries when they are ready to steal from each other in "difficult times". An example of this is the initial period of covid and problems with masks. Europe, with its current gas prices, does not feel sorry for the word at all. And what about India (is it poor too?), Brazil, Bangladesh and Pakistan, who is preventing them from buying Russian LNG? And perhaps US-European sanctions? But then sorry. Contact those who were supported in the sanctions war.

[runway-1]

LNG suppliers ignore the needs of poor countries, preferring to supply it to more solvent rich countries. Moreover, previously concluded obligations under contracts for the supply of LNG to poor countries are often not fulfilled.

Now it turns out that the rich countries have certainly suffered, but not that much. But poor countries have trouble ... About "frozen" Europe: