EU Nations Seek Energy Alternatives After Spending over $113 Billion Extra Since Iran War Began
11 Articles
11 Articles
Reformatorisch Dagblad
The European Union has spent over 100 billion extra on energy this year "without receiving a single extra molecule of gas or oil in return," said European Commissioner Dan Jørgensen (Energy) ahead of a meeting with EU energy ministers. For him, this demonstrates how "unsustainable it is to be dependent on energy sources from other parts of the world."
"We are encountering difficulties in implementing" the Methane Regulation in the "import part." (ANSA)
EU nations seek energy alternatives after spending over $113 billion extra since Iran war began
BRUSSELS (AP) — European Union nations have spent over an extra 100 billion euros ($113.5 billion) on energy imports since the outbreak of the Iran war, pushing politicians to seek alternatives to fossil fuels as prices skyrocket.
Energy ministers are meeting informally in Ireland, which holds the EU presidency. No major announcements are expected.
Dan Jorgensen, the European Union (EU) Commissioner for Energy, stated that the EU has already paid more than €100 billion this year for the same amount of oil and natural gas, and that dependence on imported fossil fuels needs to be reduced.
Rising oil and natural gas prices have increased the amount the EU pays for energy by billions of euros, even though it hasn't increased its consumption. Low natural gas storage levels and the sharp rise in prices suggest that this pressure may continue in the coming period.
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