IEA Chief Fatih Birol - Decoupling from Russian energy puts European Industry under heavy pressure
9 Mar 23 The International Energy Agency's (IEA) Executive Director Fatih Birol warned that the European Union energy will be more expensive in the future. Part of a meeting of the European Parliament's Committee on Industry, Research and Energy (ITRE) in Brussels on Thursday.
"Europe industry is based on a model which is basically getting abundant and cheap Russian energy. This is finished, there is no going back. Europe in energy in the future will be more expensive than in the past," said Birol, adding.
"This will put a lot of pressure on the competitiveness of the European industries as energy is a big part of the production cost of steel, aluminium, cars, chemicals, whatever you produce. If your energy input is much more expensive than your competitiveness, you start from a rather disadvantageous position", he added.
EU has been reportedly trying to reduce its dependency on Russian gas, oil and other energy supplies since the beginning of the war in Ukraine, in 2022.
#EU #russiaukrainewar #gasprices #energy #geopolitics #Germany #Belgium #Brussels #Birol
-
1:09
Reuters
1 year agoNew Azeri energy deal to cut Europe reliance on Russia
2519 -
0:46
Bullshoo
1 year agoIs Russia pushing Europe further into an energy crisis?
201 -
5:46
Commodity Culture
2 years agoRussia's Control of Natural Gas in Europe Explained
-
28:58
Joe Blogs
7 months agoRUSSIAN Economic Crash Worsens as Gas Sales Fall $100BN, Europe Builds Storage & Uses Renewables
582 -
27:04
Joe Blogs
7 months agoRUSSIAN Gas Sales & Income Collapse as Europe Abandons Natural Gas & Turns to Renewable Energy & LNG
19616 -
28:50
Patriots Base
1 year agoBOMBSHELL! European Energy Crisis and Agenda 2030
1191 -
3:20
Bannons War Room
1 year agoEurope's Energy Crisis Is Coming To US Due To Our Growing Dependency On Non-Dispatchable Renewables
2.89K12 -
3:46
RT
2 years agoNuclear energy issue divides EU
249 -
1:45
Reuters
1 year agoEU calls for European solidarity on energy crisis
2704 -
2:48
RT
1 year agoEU urges crackdown on Indian fuels to stop Russian oil imports reaching Europe
3.94K25