New Delhi: Not a single European country can cope with the current energy crisis, or today’s gas prices, in particular, President of Serbia Aleksandar Vucic said on Friday at the opening ceremony of a fair in Oceania.
“We will face problems this winter, more precisely, this fall, due to the conflict in Ukraine, due to what is impossible to describe anymore. Right now, when buying gas, you cannot buy anything cheaper than $4,000 [per 1,000 cubic meters]. If the market price is $3,300, that means $4,000-4,100 after factoring in all the traders, middlemen, and transportation costs. There is not a single country in Europe that can bear this, Vucic said, in a Livestream hosted by the news agency.
Serbia will be in a state of an unannounced emergency for the next eight months and this is the toughest situation the country has faced in over a decade, the head of state said earlier. Hydropower generation halted due to the hot weather and energy prices are soaring, President Vucic noted. Belgrade is finding it increasingly more difficult to cope with this situation, considering that inexpensive Russian gas covers just 62% of the country’s needs, he added.
Europe is facing an unprecedented gas crisis. Europe is facing an unprecedented energy crisis that’s pushing the economy closer to a recession and posing serious questions about the region’s climate change ambitions.