Gas prices in the EU have already risen by around 45 percent this year, in the shadow of the Ukraine war.
A higher gas price in Europe indirectly affects the electricity price that Swedish companies and households pay – especially in southern Sweden – since the electricity markets are interconnected.
Next year, the situation may become even more acute, as the gas deliveries that helped fill European storage facilities in 2024 may no longer be available.
If we really want to become independent of Russian gas, we must build out import capacity, says Krebber.
He warns of problems in the winter.
Gas storage facilities are being depleted quickly now that we've had a cold start to the winter, says Krebber.
The fact is that the Biden administration has imposed sanctions on Russian Gazprombank, the last Russian financial conglomerate that could handle payments for Russian gas.
The purpose of the sanctions is to strangle Russian export revenues, but they also risk stopping the flow of fossil gas to several European countries.
