• If nothing is done to lower the price of natural gas, the EU’s member states will endure five to ten brutal winters
• There are increasing calls for a cap on gas prices across the EU and for them to be separated from electricity prices.
• Russia, which provided 40% of the gas used in the EU last year, has in turn curbed supply.

If nothing is done to lower the price of natural gas, the EU’s member states will endure five to ten brutal winters, according to Belgium’s energy minister.

There are increasing calls for a cap on gas prices across the EU and for them to be separated from electricity prices.

Since Russia, a major gas supplier, invaded Ukraine in February and prompted sanctions, EU countries have struggled with significant increases in energy prices.

Russia’s gas and oil imports are being restricted by countries that support Ukraine.

Russia, which provided 40% of the gas used in the EU last year, has in turn curbed supply.

Gas prices in Europe need to be frozen immediately, according to tweets from Tinne Van der Straeten, Belgium’s energy minister. She also noted that the artificial relationship between gas and electricity pricing needs to be fixed.

If we don’t take action, the next five to ten winters will be horrific, she said. “We need to cooperate to freeze gas costs at the European level and at the source.”

In Europe, electricity costs have also been rising rapidly and this week broke all previous records. A significant source of electricity is gas.

Austrian Chancellor Karl Nehammer remarked, “We have to stop this madness that is happening right now on the energy markets.

He emphasized the need for lower electricity costs and urged the EU to separate the costs of energy and gas.

He continued, “We cannot allow [Russian President Vladimir] Putin to set the price of electricity in Europe every day.”

Is the world able to survive without Russian oil and gas?

In spite of Russia decreasing supply, Germany, the largest consumer of Russian gas in 2020, has been rushing to increase its gas stockpiles before winter.

By October, it hopes to have 85% of its gas capacity filled. To do this, it has put energy-saving measures in place.

According to Economy Minister Robert Habeck, these steps, together with purchasing gas from alternate suppliers, allowed Germany to achieve its objective earlier than expected.

He predicted that by the beginning of September, the 85% goal might be accomplished.

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