Europe’s Race to Secure New Energy Sources Is on a Knife’s Edge – The New York Times

by | Jul 30, 2022 | Energy

As Russia tightens its chokehold on supplies of natural gas, Europe is looking everywhere for energy to keep its economy running. Coal-fired power plants are being revived. Billions are being spent on terminals to bring in liquefied natural gas, much of it from shale fields in Texas. Officials and heads of state are flying to Qatar, Azerbaijan, Norway and Algeria to nail down energy deals.Across Europe, fears are growing that a cutoff of Russian gas will force governments to ration fuel and businesses to close factories, moves that could put thousands of jobs at risk.So far, the hunt for fuel has been met with considerable success. But as prices continue to soar and the Russian threat shows no sign of abating, the margin for error is thin.“There is a very big and legitimate worry about this winter,” said Michael Stoppard, vice president for global gas strategy at S&P Global, a research firm.Five months after Russia’s invasion of Ukraine, Europe is in the grip of an accelerated and increasingly irreversible transition in how it gets its energy to heat and cool homes, drive businesses and generate power. A long-term switch to more renewable sources of energy has been overtaken by a short-term scramble to make it through the coming winter.The amount of natural gas coming from Russia, once Europe’s largest source of the fuel, is less than a third of what it was a year ago. This week, Gazprom, the Russian energy giant, throttled back already sharply reduced flows in a key pipeline from Russia to Germany, sending European gas futures prices to record levels.Within a day of Gazprom’s announcement, the European Union called for a 15 percent cut of gas use through …

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