The European Union's (EU) energy sector head Kadere Simpson has expected a "serious disruption" to gas supplies coming from Russia to the European Union.
"Since the outbreak of the Ukraine crisis, we have realized that a very serious disruption is possible, and it now appears likely," Simpson said, urging countries to prepare for this development, and update contingency plans to cope with supply shocks.
"We have done a lot of important work to prepare for this. But now is the time to step it up,” The European official added.
It is worth mentioning that, the International Energy Agency (IEA) Executive Director Fatih Birol said that Russia may cut off gas to Europe entirely, as it seeks to consolidate its political influence amid the Ukraine crisis, and urged Europe to prepare for such a move.
“I do not rule out that Russia will continue to find various issues here and there and continue to find excuses to further reduce gas deliveries to Europe and maybe even cut it off completely,” Birol said in an exclusive statement to Reuters.
Earlier this month, Egypt, Israel, and the European Union signed a trilateral natural gas agreement in Cairo, as Europe scrambles to cobble together an energy strategy to replace the Russian supplies it has relied on for decades.
The deal, which has been in the works since March, will enable Israel to streamline and increase the export of its natural gas through already existing pipelines to Egyptian ports, where it can be pressurized and liquefied, then transported to Europe.
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