BAKU, Azerbaijan, April 15. The Oxford Institute for Energy Studies (OIES) provided forecasts for fluctuations in demand and supply of natural gas in the EU in their analytical material titled Stress-Testing Europe's Shift from Russian Gas to Renewables, Trend reports via the document.
"The fluctuations in gas demand and supply in the EU, caused by a combination of climate and technological factors, could amount to over 98 billion cubic meters of gas, and such a wide range requires an understanding of how the EU will ensure the stability of its energy system," the document noted.
The expected figure mentioned essentially represents one-fifth of the total gas demand in Europe in 2023, highlighting the importance of serious forecasting of EU actions regarding gas and the implementation of renewable energy sources as substitutes for natural gas.
"There are four sources of flexibility in the event of the EU's complete abandonment of Russian gas: redirecting global gas flows to Europe from various producers; an immediate response from industrial and residential consumers in the EU; increasing hydrogen generation and expanding gas storage capacity," OIES experts noted.
OIES also said that attention should be paid to the issues of creating and operating reliable infrastructure and efficiently managing gas demand.
Analysts from this authoritative organization pointed out that the EU managed to address energy supply issues during the past winter season, but new challenges may lie ahead.
To note, since the beginning of April, the EU has started injecting gas into storage facilities, and the total volume of gas already sent for this purpose exceeds 61 percent of Europe's total gas storage capacity - a record level.
OIES considers gas essential for ensuring the stability of the EU's energy system, as there may be disruptions in renewables operations due to unstable weather conditions.