Simon Tucker, Global Head of Energy, Utilities & Resources, Infosys Consulting:
“Further cuts to Nord Stream 1 gas supplies spells a difficult winter ahead for Europe. Cutting consumption can only do so much. Fundamentally, there is huge demand for natural gas and especially liquid natural gas (LNG) in Europe. Rationing, which will especially impact energy intensive industries like car makers, chemical companies and cryptocurrency mining, can’t be ruled out.
“EU countries and the UK must do all they can to replenish gas stores before the cold kicks in – this means looking at every way possible to reduce energy use and improve supply. We’re already seeing a large increase in shipments of LNG from the Middle East and North America. But countries need to accelerate the modernisation of their own infrastructure. Mass deployment of low-carbon, domestic energy alternatives like mini nuclear reactors and community renewables is not just a “nice to have”, it’s an imperative if we are to come out of this crisis stronger.”