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But he added that replacing gas with renewable energy should now be a priority. “We really don’t want this business. Our business is to have clean energy here in Spain and also in Europe.”
Industry representatives are warning against abandoning fossil fuels too quickly. They argue that even under the EU’s gas reduction plans, there is still a need to secure additional LNG supplies, especially given pressure to withdraw from Russian exports.
Narek Terzian, a spokesperson for the International Association of Oil and Gas Producers, said the gap between “forecast demand” based on the EU’s current forecasts and “actual supply that we know of excluding Russia” It pointed out.
“That’s the supply gap that needs to be filled,” Terzian argued. “Therefore, it is very important that Europe is able to get the quantities it needs from the United States.”
The numbers paint a different picture.European gas demand hits lowest level in 10 years last year, according to the Institute for Energy Economics and Financial Analysis. However, this decline was mainly driven by her three countries: Germany, Italy, and the United Kingdom. Overall, Europe’s LNG demand will not peak until 2025, the institute concluded.
Meanwhile, the gas industry insists that additional LNG investment will not limit supplies to Europe to the United States. Bravo, head of European gas infrastructure, said there was also the possibility of sourcing LNG from producing countries such as Norway and Qatar. In the future, the port could also be repurposed for less carbon-intensive fuels, he added.
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