Europe needs to wean itself off Russian gas. But kicking the habit will take a concerted decade-long push, write gfhay and LJucca ReutersFlasseur
Last year Russia piped about 150 bcm of gas to Europe. Shrinking that to zero over a decade means replacing 15 bcm a year. Yet Europe is also phasing out 100 bcm of coal-fired electricity on climate concerns, and its own production of gas is declining at 5 bcm a year. So Europe would need to make up an annual shortfall of 30 bcm, according toRenewable energy can fill some of the gap.
Domestic consumers could help too. If 500 million Europeans took a cold shower and turned the heating off one day a month, they would reduce gas consumption by 4 bcm annually, Bernstein reckons. Shaking Europe’s addiction to Russian gas will require everyone to pitch in.
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