Europe may have to ration energy to cope with declining Russian supply this winter, says Shell CEO.
Emmanuel Macron has asked French citizens to reduce their energy usage to avoid a difficult winter.Europe may have to ration energy to cope with declining Russian supply this winter, the chief executive of Shell has warned.
Ben Van Beurden was speaking at an energy conference in Oxford when he made the comments that were reported by TheThe Shell boss predicted"significantly" higher gas prices if Vladimir Putin continues to slow supplies to Europe and said that he couldn't rule out Russia cutting off supplies entirely."I think we will be facing a really tough winter in Europe," he said."In the worst case, we will be in a situation where we have to ration.
"Maybe some countries will fare better than others, but I think we will all be facing very significantly escalating pricing, so there will be a lot of pressure on industry and therefore there will be a lot of pressure on the economy," he added. On Monday, Russia turned off one of its main pipelines to Germany, Nord Stream 1, for scheduled maintenance.
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