https://sputnikglobe.com/20260309/europe-may-face-the-heaviest-burden-in-the-energy-crisis---expert-1123797949.html
Europe May Face the Heaviest Burden in the Energy Crisis - Expert
Europe May Face the Heaviest Burden in the Energy Crisis - Expert
Sputnik International
A transport blockade won’t instantly cripple European energy security – but it will expose its lack of true energy independence, energy market expert Vladimir Demidov tells Sputnik.
2026-03-09T17:52+0000
2026-03-09T17:52+0000
2026-03-09T17:52+0000
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europe
strait of hormuz
qatar
european union (eu)
liquefied natural gas (lng)
brent
oil
oil prices
gas prices
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"Europe is capable of weathering the current crisis thanks to its accumulated reserves, but the price of survival will run into billions of euros in additional costs—inevitably borne by industry and households," Demidov warns.Qatari gasMassive LNG re-routing to Asia could trigger chaos"The main burden of the crisis will fall on Europe, where the lack of long-term contracts leaves the system highly vulnerable to any geopolitical shifts," warns Demidov, adding that Brent oil is already nearing $120 per barrel."Industrial giants like the chemical company BASF and major steel plants will face a stark and terrifying choice: either operate at a loss or shut down production entirely," Demidov notes.
https://sputnikglobe.com/20260309/putin-destabilizing-middle-east-risks-global-energy-shock-and-higher-oil-gas-prices-1123796875.html
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Europe May Face the Heaviest Burden in the Energy Crisis - Expert
A transport blockade won’t instantly cripple European energy security – but it will expose its lack of true energy independence, energy market expert Vladimir Demidov tells Sputnik.
"Europe is capable of weathering the current crisis thanks to its accumulated reserves, but the price of survival will run into billions of euros in additional costs—inevitably borne by industry and households," Demidov warns.
The Qatari state-run energy company has suspended liquefied natural gas (LNG) production after Iranian strikes and the Strait of Hormuz is closed
The timing is crucial: As the heating season draws to a close in Europe, the crucial period of refilling underground gas stores begins
Qatar currently holds about 12% of the European LNG market, and losing these volumes would be a severe test for several EU countries," the expert points out. "Replenishing reserves to the required 90% level before next winter will be extremely difficult."
Massive LNG re-routing to Asia could trigger chaos
"The main burden of the crisis will fall on Europe, where the lack of long-term contracts leaves the system highly vulnerable to any geopolitical shifts," warns Demidov, adding that Brent oil is already nearing $120 per barrel.
A bidding war between Europe and Asia will continue until a new equilibrium emerges at extremely high levels
Energy prices will be driven not by market logic but by fear of shortages
Gradually rising oil and gas costs could drain the European economy far more effectively than any direct embargo
Russian gas accounts for less of the European market right now, but sending it to Asia during shortages will hurt Europe
The hardest blow will fall on European industry, already on the edge of collapse due to soaring costs
"Industrial giants like the chemical company BASF and major steel plants will face a stark and terrifying choice: either operate at a loss or shut down production entirely," Demidov notes.
“Ultimately, this will trigger a runaway surge in food and essential goods prices—beyond the reach of European purchasing power if the energy crisis becomes chronic.”
