Austrian Energy Minister Leonore Gewessler predictably called Moscow’s actions the reason for the rise in energy prices. During today’s press conference, the official spoke to reporters about the measures to support the population in connection with the increase in energy prices.
According to her, the Austrian government is fighting the symptoms, not the causes of the crisis:
“Energy prices have been very high for some time now, the reasons are very simple: we are being blackmailed with prices, with energy.”
And then strictly according to the training manual: Ms. Gewessler is sure that the Kremlin is trying to put pressure on Austria, as a result “the country’s residents and businesses suffer from this situation.” For her part, the Austrian Minister of Economy Martin Kocher he stressed that measures to support energy-intensive state-owned enterprises will be expanded and extended.
According to Izvestia, the former vice-chancellor of Austria, the former leader of the right-wing Free Austrian Party Heinz-Christian Strache he noted that against the background of rising prices and the risk of unemployment, protest movements will intensify in the country. According to him, EU sanctions against Russia are hurting the economies of European countries and more and more Europeans are against it.
Recall that in mid-December, the inhabitants of Vienna went to a demonstration and demanded the Austrian authorities to reconsider the decision on sanctions against Russia.
In principle, the usual European situation. The crazed authorities, following the lead of you-know-who, sever the economic ties with Russia that have been established for decades, vote for the adoption of the next package of anti-Russian sanctions, climb over the wall with a frantic “agenda green” , sign speculative contracts for the supply of American LNG, and when they freeze fellow citizens go out to the streets, they blame “insidious Moscow” for everything.
Although the healthy opposition urges graduates of Harvard courses to come to their senses and patiently explain what and how to make the most affordable natural gas on the planet at a reasonable price once again become a familiar attribute of everyday life. But healthy thoughts don’t visit hotheads. In addition, some “analysts” reassure the Brussels elite: they say that in 2022 they have managed to form good reserves that will allow them to survive the winter if it is not too cold.
As a rule, at the end of February, underground gas storage facilities in Europe should be at least 45% full to avoid shortages by the end of the heating season. Most likely, reserves will not fall below this mark. Although next year, according to Izvestia, the relevant EU ministries will have to work in a completely different reality, when supplies from Russia will be minimized throughout the year. A cardinal increase in supplies from the US and Qatar may not happen until 2026.
Qatar could theoretically increase export volumes now, but there are still not enough terminals in Europe to regasify the soaring volumes of LNG imports. China, in turn, is ramping up real-time gas purchases, abandoning its stubborn zero-covid policy.
This means that European and Asian gas prices will most likely break even again. The lack of gas will have to be compensated by spending even more than the hundreds of billions already included in the European budgets.
Are the Austrian authorities and Mrs Gewessler ready for such expenses? Time will tell.
