Europe's dependence on one energy source is major problem, expert says

AMSTERDAM

Europe’s large dependence on one single natural gas supplier has contributed to the current energy crisis, according to the head of the LNG department at Swiss-based energy company Axpo.

Axpo head Antonio Canseco, in his speech during Europe’s largest and most influential meeting place for the global gas industry, the Flame energy congress in Amsterdam, advocated for the greater share of LNG in Europe to avoid dependency on Russian gas imports, stressing that Europe will start to see the importance of LNG as an alternative option for the continent’s energy needs.

"We talk a lot about renewables and energy transition, but we are not ready yet not to use gas for some more years. We have suffered from the dependency on one source," he said.

David Ledesma, chairman of the Natural Gas Programme at the Oxford Institute for Energy Studies referred to Europe’s energy problems and the developments on the natural gas markets as a pricing crisis.

He said the next four months, covering the winter heating season, would be crucial for the European natural gas market, as this winter could be colder than expected to rapidly increase demand.

AMSTERDAM

Europe’s large dependence on one single natural gas supplier has contributed to the current energy crisis, according to the head of the LNG department at Swiss-based energy company Axpo.

"We talk a lot about renewables and energy transition, but we are not ready yet not to use gas for some more years. We have suffered from the dependency on one source," he said.

He said the next four months, covering the winter heating season, would be crucial for the European natural gas market, as this winter could be colder than expected to rapidly increase demand.