The outlook for energy markets – affected by the impact of the US-Israeli war with Iran – is bad even in the best-case scenario, said European Energy Commissioner Dan Jorgensen.
The outlook for energy markets – affected by the impact of the US-Israeli war with Iran – is bad even in the best-case scenario, said European Energy Commissioner Dan Jorgensen.
“This is a crisis probably as serious as those of 1973 and 2022 combined, and that means we have very difficult months, or maybe even years – depending, of course, on developments in the Middle East – but even in the best-case scenario, it’s still bad,” he said, according to RRA.
“If we imagine that tomorrow there is peace, it will still take, for example in Qatar, probably two years, maybe even more, to rebuild gas production and transport infrastructure,” he added at a press conference, Reuters reports, quoted by Rador.
European Commissioner for Energy and Housing, Dan Jorgensen, said that, in his opinion, Europe should no longer import “a single molecule of energy from Russia” and pleaded for the region to invest in its own cheap energy source, alluding to renewable sources, according to Digi24.
At the annual conference of the European wind energy association WindEurope, which is taking place in Madrid, Jorgensen referred to the debate on whether the old continent should review its ban on energy from Russia, given the current crisis in the Middle East, and insisted that such a change of heart would be “a huge mistake.” In his opening speech, the Dane alluded to the energy crisis that erupted after Russia’s invasion of Ukraine in 2022, when the European Union realized the “mistake” it had made by being dependent on a country that then became “the enemy”. “This mistake cannot be repeated”, stressed the Commissioner, who welcomed the way in which, four years later, the region managed to “move away” from energy dependence on Russia. The Commissioner also spoke about the current context, marked by a new “shock”, the war in Iran and its economic repercussions. However, this is not an energy crisis, but rather a renewable fuels crisis, which Europe is facing from a better position than in 2022, with more clean energy in its system and diversified sources of supply, he argued.