In its annual report, the Agency emphasizes that Europe must rush to replace Russian energy supplies and double energy efficiency and renewable energy sources.
THE Europe must immediately prepare for a complete cessation of Russian gas supplies this winter, said the head of the International Energy Agency (IEA).
«Europe must be prepared for the event that the supply of Russian gas is completely stopped“, Said the Fatih Birol in an interview with the newspaper Financial Times.
The reduction in supplies, which was decided by Russia last week, could also signal new reductions, Birol said, as Moscow seeks to use the cuts as a “lever” for the war in Ukraine.
In its annual investment report, the International Energy Agency today emphasizes that Europe must rush to replace Russian energy supplies and double energy efficiency and renewable energy sources.
«In the short term, efforts to find alternative sources of fossil fuels create clear opportunities for non-Russian suppliers.“, Says in its annual report the IEA, based in Paris.
Europe must respond to the crisis “Decisively accelerating investment in efficiency, renewable energy and other clean technologies”he adds.
Supporting old nuclear infrastructure can offer a break in terms energy price increases and supply cuts, reports the IEA.
«In light of the renewed interest in the role of nuclear energy in the transition to clean energy, the war underscored the need to explore options for … investing in new facilities as well as reopening existing uranium conversion plants.».
More broadly, the $ 2.4 trillion to be invested in energy this year includes record spending on renewable energy, but does not cover the energy supply gap and contribute to tackling climate change, the agency said.
As it grew 8% from last year, when the pandemic was more severe, the investment includes major increases in the electricity sector and efforts to boost energy efficiency, according to the same source.
«These kinds of investments are growing, but we need them to grow much faster to ease the pressure on consumers from high fossil fuel prices, make our energy systems more secure, and get people on the road to climate change. our goals“, Said the head of the IEA Fatih Birol.
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