Europe must act swiftly to address energy crisis, expert says

Europe has only about six months to resolve the problem that will inevitably arise after the cessation of Russian gas supplies through Ukraine to Europe from 2025, according to Nadežda Kokotović, Director of the Brussels Energy Club.

She told Report that the European Union is in a stressful situation where it needs to quickly agree on the supply of 15 billion cubic meters of gas per year, which the EU still receives from Russia and which will stop after December 31 this year.

"The construction of additional infrastructure or the expansion of existing infrastructure is a luxury, not only from the point of view of 'gas as a transitional fuel' and its short-term prospects, as the current EU leadership perceives it, but also from the point of view of the rest of the world," she said.

Kokotović noted that the funds that will go for these purposes can be spent more rationally.

"This money could be used much more wisely in developing countries, where hundreds of millions of people have virtually no access to energy. In such conditions, the concentration of even more resources in Europe is not very fair," the director emphasized.

Despite the challenges, Kokotović expressed confidence that a solution will be found and the parties will reach a consensus.

"In my personal opinion, leaving everything as it is would be the most beneficial solution for everyone," she concluded.