European countries should expand the role of natural gas in their energy systems to reduce the risk of supply shocks caused by international crises, an energy industry chief has said.
Choeib Boutamine, chief executive of Ranadrill Energy, told AnewZ’s Prime Time that greater diversification would strengthen Europe’s energy security and support its economy.
“Even if the war stops today, the impact will be long-lasting. Europeans should focus on diversification, for example, by increasing the share of natural gas in their energy systems.
“Natural gas can also be used as fuel for cars and trucks, which could serve as an alternative,” Boutamine said.
“I think a new strategy is needed, one that focuses on resilience given ongoing global events. We already have the war in Ukraine and tensions in the Strait of Hormuz. Multiple crises are happening at once.
“So energy diversification should be a priority, especially through increasing the role of natural gas, which can act as a buffer for the European economy.”
The head of the International Energy Agency warned on Thursday that Europe may have only six weeks of jet fuel left if it cannot replace imports from the Middle East.
Europe has previously imported three-quarters of its jet fuel from the Middle East.
Since Iran effectively closed the Strait of Hormuz to ships at the end of February, European countries have sought to replace Gulf imports with supplies from other countries.
Boutamine said he didn’t think Europe would end up suffering a jet fuel shortage, but said he expected prices to continue to rise in the next few weeks.
“They have some alternatives. One of the strongest alternatives they have is crude oil from the U.S. They also still have the Russian option,” Boutamine said.
Iran and the United States remain at loggerheads over efforts to agree a permanent end to the war in the Gulf, according to a senior Iranian source wh...
Central Asia’s economy has surpassed $543 billion, driven by Kazakhstan’s economic weight, strong exports and foreign investment, while growing tr...
The United Nations refugee agency is planning a settlement and carpet-weaving workshop for Afghan returnees in Kabul as the country grapples with larg...
Disruption in the Strait of Hormuz has increased the strategic importance of Bab al-Mandab, raising fears that instability in both waterways could trigger a wider global energy and trade crisis.
Iran and the United States remain at loggerheads over efforts to agree a permanent end to the war in the Gulf, according to a senior Iranian source who said there had been no progress in talks to revive the interim deal agreed in June and define a timeframe to implement it.
U.S. President Donald Trump has called for Iran to pay compensation for decades of deaths and damage, adding a new demand to peace talks as Tehran seeks compensation and sanctions relief before reopening the Strait of Hormuz.
A criminal court in Damascus has sentenced former Syrian President Bashar al-Assad to death in absentia for premeditated murder, torture, arbitrary detention and crimes against humanity, according to Syria’s state news agency SANA.
Millions of people across Spain and Iceland are preparing on Wednesday to witness a rare total solar eclipse, when the moon will pass directly between Earth and the Sun, briefly turning daylight into darkness along a narrow path.
Millions of people across Spain and Iceland are preparing on Wednesday to witness a rare total solar eclipse, when the moon will pass directly between Earth and the Sun, briefly turning daylight into darkness along a narrow path.
Ukraine has agreed to refrain from targeting certain tankers using Russia’s Black Sea port of Novorossiysk following a request from U.S. Vice President JD Vance, the Financial Times reported, although Kyiv has continued strikes on Russian targets at the port.
Taiwan has criticised a planned joint naval exercise involving China and Indonesia near its eastern waters, describing it as a politically charged move designed to strengthen Beijing's claims over areas surrounding the island.
An overnight Ukrainian drone attack on Russia’s Black Sea port city of Novorossiysk killed an eight-year-old child, injured others and damaged residential buildings, port infrastructure and grain facilities, Russian officials and industry sources said on Wednesday.
Romanian military divers have destroyed two Gerbera-type drones found drifting near the Neptun Deep offshore gas development in the country’s Black Sea exclusive economic zone.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment