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The head of the energy giant “Shell” said that “a very difficult winter in Europe is on the way”, in light of anticipation of a significant increase in energy prices.
Ben van Beurden added, during an energy conference, that the rationalization of energy use in Europe cannot be ruled out, due to concerns regarding gas supplies from Russia.
Energy prices rose earlier this year following Russia invaded Ukraine.
Russia has also been accused of using gas as a “weapon” to reduce its exports in response to European Union sanctions.
And last month, Germany moved to rationalize the use of energy following it issued an “alarm” and developed an emergency plan to deal with the shortage of gas, in light of fears of reducing supplies.
This week, Germany’s supply of Russian gas via Nord Stream 1 across the Baltic Sea was halted for ten days for annual maintenance, but there is concern that Russian supplies will not be resumed.
Gas depots in Europe remain 62.6 percent full, with warnings that reaching 80 percent filling is a difficult goal to achieve.
The European Union pledged to reduce Russian gas imports by two-thirds within a year.
But it was difficult to reach agreement on any other measures, such as imposing an outright import ban.
During a conference in Oxford, Van Beurden said: “It will be a really difficult winter in Europe. Some countries will provide better prices than others, but we will all face a huge escalation in energy prices.”
A week ago, the head of Britain’s Energy Watch warned that household gas bills would rise faster than expected this winter.
An industry analyst had forecast a rise of more than £1,200 a year for Britain’s gas consumption in October.
Cornwell Insight said the typical homeowner in Britain would likely pay £3,244 a year from October, then £3,363 a year from January.
