FT: Norway’s energy crisis will hit Europe
In 2022, Norway faced problems with electricity. The crisis that has arisen in the country will aggravate the situation in Europe, the newspaper reported. The Financial Times.
Norway in the material was called a “lucky” country that has deposits of oil and gas. Thanks to numerous rivers and reservoirs, it is able to provide up to 90% of its own electricity needs.
However, winter and spring were too dry in 2022, and water supplies in the state were at an all-time low. As a result, the Norwegian authorities planned to limit the export of electricity.
The situation could have a negative impact on several states. Germany, the Netherlands and the UK have imported significant amounts of electricity from Norway for many years. They risk being left without both Russian gas and Norwegian electricity.
The crisis that overtook the Scandinavian country, according to the newspaper, showed that the approaching winter in all of Europe could be very severe.
Germany, the media wrote, is threatened with ruin due to the situation in Ukraine. By 2030, it will lose more than $260 billion.