The 10% of gas exported by Russia to Finland doesn’t represent on its own, and at first glance, a particular interest in the midst of this economic crisis. It would be easy to think that a solution could be found at the snap of a finger.
But on closer inspection, the situation is more complex.
Finland could easily turn to their other partners, such as Norway at 22%, the Netherlands at 12%, and the Czech Republic at 11%. That said, without the 40% exported from Russia to Europe, total gas production in Europe would reach at the most 45%. It would therefore be missing 55% for the continent to be able to run at full speed from an energy point of view and be economically competitive.
Germany alone imports 32% of Russian gas, 20% from Norway, 12% from the Netherlands, and 11% from the Czech Republic. Germany has only 22% domestic reserve. France, for its part, has developed a nuclear project that allows it to consume no more than 20% of gas, which gives it great energy independence. But what if Germany slows down and its economic policy is affected?
It is the engine of Europe that will be broken down, and despite a more than effective French energy policy, European productivity will be in decline with the social consequences that we know and a surge in the price of gas, wherever it comes from.
So who finally could get the 9-10% of the gas that Finland needs?
This country which wants to join NATO and was lately sanctioned by Moscow, (a country which doesn’t represent an economic priority for the European Union), or the German economic giant that was once considered a political dwarf and which today holds the reins of power on the old continent?
It is not the Natural Gas Shipment of the United States that will provide the solution. The Biden administration knows this well, just as it knows that this war in Ukraine is a brake on the economic development of the European community.
Jedediah
#gazprom #russia #eucommunity #germany #france #nuclearenergy #bidenadministration #sghumanitarianconsortium #themadisonscorner
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