Friday, August 19, 2022
HomeEnergy Live News“Total halt of Russian energy exports to Europe could put UK’s energy...

“Total halt of Russian energy exports to Europe could put UK’s energy security at risk”

Turning off the Russian gas taps completely could put the UK’s energy security at risk.

That’s according to the latest report by the Centre for Economics and Business Research (CEBR) which estimates the risk of a recession in Europe this winter is approximately 40%.

In June, Russian energy company Gazprom cut exports through the Nortstream 1 pipeline by nearly 60%.

In recent weeks, countries have announced measures to navigate the energy crisis.

Last week, Germany triggered stage two of its emergency gas plan.

The authors of the CEBR’s report suggest the UK is still exposed to the energy market price volatility although there is no Russian pipeline delivering gas to the UK directly.

They also note that the UK has very limited storage capacity, meaning it is less able to sit out temporary price shocks.

Energy Live News
This article first appeared on ENERGY LIVE NEWS. Energy Live News (ELN) is a multi award winning independent publishing and events company. We are the UK’s leading dedicated daily news site covering energy. We make energy issues easy to understand and appeal to both the b2b sector and general consumer. We are independent, fair and outspoken in our coverage and we aim to be the place to come to for easy to understand energy news. We have won awards for our journalism. ELN also has an events arm which is also multi-award winning with industry leading conferences and awards. Our flagship conference is ENERGY LIVE EXPO, which is the must-attend event of the year and is regularly headlined by Energy Ministers and CEOs from across the sector. And our ENERGY LIVE CONSULTANCY AWARDS which won Best New Awards Event 2017, is now the gold standard accolade for UK energy broker market. Hit the web and social links below to visit Energy Live News across the web.
- Advertisment -

Most Popular