The energy crisis facing Europe currently  

Mr. Choeib Boutamine

January 11, 2025

Speaking to Sky News Arabia, the CEO of Ranadrill Energy Mr. Choeib Boutamine, says that Europe is facing a major energy crisis due to several factors.

The gas pipelines supplying Europe with Russian gas are now providing only 8% of its natural gas needs instead of 40% (due to the Russia-Ukraine war).

The gas transit pact crossing Ukraine, which used to supply Europe with 15 billion cubic meters of natural gas, has not been renewed.

 On top of all this, the recent cold wave hitting Europe has exacerbated the energy crisis and pressured the continent to seek immediate alternatives amid a 60% hike in gas prices compared to last year.

The USA has a gas surplus and is willing to increase gas exports to Europe, but at a high price, while the gas piped from Algeria and Norway remains insufficient for EU countries.

Mr. Choeib Boutamine insists that Europe should adopt a realistic approach concerning renewables and accept the fact that they are still far from replacing fossil fuels, adding that the current cold weather requires immediate action.

Germany, for instance, invested 20 billion USD in renewables, but due to the current energy crisis (in addition to a 25% decrease in wind energy), the country has resorted to coal, dealing a blow to its previous investments in clean energy.