![](https://i.imgur.com/CLvY2jA.png")
27-09-2021, 08:13 AM
Cyril Widdershoven
OilPrice.com
Sun, September 26, 2021, 7:00 AM
Europe’s energy crunch is continuing, as gas storage volumes have shrunk to 10-year lows. A possible harsh winter could lead to severe energy shortages and possible shutdowns of large parts of the economy.
......
Dutch Minister Stef Blok has indicated that he is considering the potential reopening of the Groningen field, in particular five wells, especially the one at Slochteren, as indicated by Johan Attema, director of the Nederlandse Aardolie Maatschappij (NAM), the operator of the Groningen field. The reopening of the field, even in the case of an emergency or an energy crisis, is politically controversial.
Until recently, the plan was that Groningen would be closed completely by 2023, ending the large-scale gas production and export by the Netherlands with a bang.
......
It remains unclear, however, whether European politicians are aware of the role that their own policies have played in creating this crisis. Even with the partial restart of the Groningen field, which could relieve some of the pain in Western Europe, there is a larger problem that must be addressed.
......
European leaders desperately need to reconsider their position towards Russian gas supplies and the future role of NordStream 2, which is still being threatened by US sanctions and Eastern European opposition.
It seems that Russia’s leader Vladimir Putin, however, is holding all the cards when it comes to natural gas in Europe. Without substantially more natural gas supply to Europe, consumers and industry may well be facing a winter of discontent. Europe’s gas supply diversification strategy has been a failure, not only due to EU tactics and regulations but also because of the ongoing one-sided emphasis on a rapid energy transition, hydrocarbon divestment, and full-scale investments in renewables, without realizing that the backbone of the European economic system is still hydrocarbon fueled.
......
The current situation shows one main fact of life, the success of the energy transition is not based on a one-sided approach. By relying too much on renewables, the market became destabilized, but politicians and others didn’t want to admit it. Destabilization could and should be prevented, by acknowledging the fact that for the foreseeable future hydrocarbons, including coal, will be playing a significant role in the European energy market.
......
Politicians should start to listen to market analysts that have been warning of a disruption in energy markets. The European long-term energy strategy should acknowledge the position of hydrocarbons as a backbone while investing in renewable options at the same time.
https://finance.yahoo.com/news/harsh-tru...00554.html
OilPrice.com
Sun, September 26, 2021, 7:00 AM
Europe’s energy crunch is continuing, as gas storage volumes have shrunk to 10-year lows. A possible harsh winter could lead to severe energy shortages and possible shutdowns of large parts of the economy.
......
Dutch Minister Stef Blok has indicated that he is considering the potential reopening of the Groningen field, in particular five wells, especially the one at Slochteren, as indicated by Johan Attema, director of the Nederlandse Aardolie Maatschappij (NAM), the operator of the Groningen field. The reopening of the field, even in the case of an emergency or an energy crisis, is politically controversial.
Until recently, the plan was that Groningen would be closed completely by 2023, ending the large-scale gas production and export by the Netherlands with a bang.
......
It remains unclear, however, whether European politicians are aware of the role that their own policies have played in creating this crisis. Even with the partial restart of the Groningen field, which could relieve some of the pain in Western Europe, there is a larger problem that must be addressed.
......
European leaders desperately need to reconsider their position towards Russian gas supplies and the future role of NordStream 2, which is still being threatened by US sanctions and Eastern European opposition.
It seems that Russia’s leader Vladimir Putin, however, is holding all the cards when it comes to natural gas in Europe. Without substantially more natural gas supply to Europe, consumers and industry may well be facing a winter of discontent. Europe’s gas supply diversification strategy has been a failure, not only due to EU tactics and regulations but also because of the ongoing one-sided emphasis on a rapid energy transition, hydrocarbon divestment, and full-scale investments in renewables, without realizing that the backbone of the European economic system is still hydrocarbon fueled.
......
The current situation shows one main fact of life, the success of the energy transition is not based on a one-sided approach. By relying too much on renewables, the market became destabilized, but politicians and others didn’t want to admit it. Destabilization could and should be prevented, by acknowledging the fact that for the foreseeable future hydrocarbons, including coal, will be playing a significant role in the European energy market.
......
Politicians should start to listen to market analysts that have been warning of a disruption in energy markets. The European long-term energy strategy should acknowledge the position of hydrocarbons as a backbone while investing in renewable options at the same time.
https://finance.yahoo.com/news/harsh-tru...00554.html
