Energy expert and former E-Control board member Walter Boltz believes that gas prices, which have already risen by a third following Hamas’s terrorist attack on Israel, “may well rise another 20 to 30 percent.”
Boltz said on ‘ZiB 2’ on Sunday evening that he does not believe prices will triple again, as was the case after the Russian attack on Ukraine.
“Well prepared for shortages”
The International Energy Agency and oil storage in all OECD countries are now better prepared for a possible shortage of oil supplies in the event of an oil embargo by Arab countries against the West than after the start of the Yom Kippur War fifty years ago. Boltz said.
More independence from Russian natural gas
According to him, nothing has yet been done to ensure greater independence from Russian natural gas. He stressed the urgency of taking action in the coming months, especially in light of Ukraine’s announcement that it will stop passing Russian gas from the end of next year.
For example, there are still no construction activities for a gas pipeline from Germany to Austria, and there are also “few attempts to get alternative quantities of gas to Austria”. Boltz pointed to the example of Germany, which built a new LNG terminal in just one year.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
