It is noted that gas prices in Europe are likely to grow in the long term due to the higher cost of tanker deliveries of energy resources
NEW YORK, August 9. /TASS/. Europe has not overcome the energy crisis yet as it is in full-swing amid the Ukrainian conflict and halted supplies of Russian gas, Leonhard Birnbaum, the chief executive officer at E.ON, said in an interview with Bloomberg Television.
The structural change due to the conflict in Ukraine “and the drop out of Russian gas in the supply of Europe is going to stay and therefore the crisis is not over,” the chief executive said.
Meanwhile, “the likelihood of a repetition of the crisis of last winter has gone down significantly, which can also be seen in the forward market,” Birnbaum noted. Gas prices in Europe are likely to grow in the long term because tanker deliveries of energy resources to Europeans are more costly than pipeline gas in Russia.
Following the start of the Russian special operation in Ukraine, Germany opted to drop imports of Russian energy resources. Russian oil is not being supplied to Germany via the Druzhba oil pipeline any more. There is also no Russian pipeline gas flowing to the country, since three out of the four Nord Stream gas pipeline strings were destroyed by sabotage.