Reducing Europe’s dependence on Russian gas in the next two years is impossible without a massive shutdown of production. This is reported in the study “European energy balance in a new reality”, prepared by the consulting company “Yakov and Partners” (former McKinsey & Company).
Europe has not yet overcome dependence on Russian gas, so it will not be able to get through the coming winter and 2023 without maintaining gas supplies or a significant reduction in the economy, analysts say.
At the same time, it is noted that to reduce gas consumption by an additional 7-12 billion cubic meters. m “possible only with a complete or partial shutdown of a number of industries.”
The consulting company also pointed out that 70% of nitrogen fertilizer production capacities have already been stopped in Europe, aluminum production has been reduced by 25%, steel production by 5%.
Yakov & Partners experts believe that the measures taken by Europe may begin to give the first results towards the end of 2023.
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