Spain is safe from a possible Russian gas cut

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Spain it is immune to a possible total cut in the gas supply from Russia to Europe. Today, with Portugal and France, they are the only countries not to run any risk if Moscow implements this terrible energy plan. According to a recent Bruegel report, Europe should be forced to reduce its gas demand by 15% if it runs out of Russian gas at that time.

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Liquefied Natural Gas (LNG)

But it’s average. In fact, going through regions or countries, Eastern Europe or Germany, is not the same as Spain and Portugal. This is why Bruegel carried out a detailed study taking into account the contracts with Gazprom, the storage levels of each country, zone or region, their capacity to substitute for supplies, etc.

For all these reasons, those that stand out the best are Spain, Portugal and France. And all because they are an energy island compared to the rest of the continent, which is much more interconnected in terms of gas. These three countries are the kings of LNG with Italy and are not as dependent on Russia as other countries.

Its response to demand has been poor so far and, according to Bruegel, Germany needs to achieve an almost 30% reduction in gas consumption, with what this means for the rest of Europe economically. speaking. However, Spain, Portugal and France do not have to make an effort in terms of demand, since their storage levels are quite high and they can source LNG from other countries.

Thanks to the stored gas, demand could be met without problems and the warehouses kept quite full, so there is no need to worry in case Vladimir Putin decides to cut off the gas supply.

Character font: Ramón Roca / The Energy Diary

Reference article: https://elperiodicodelaenergia.com/espana-zero-risk-ante-un-possible-ruso-gas-cut/

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