Europe is driving developing countries into “energy poverty” by “sucking” gas from all available sources in order to survive the winter. This was stated by the energy analyst of Credit Suisse Group AG Saul Cavonic, reports Bloomberg.
“Europe is sucking gas out of other countries at any cost,” Kavonik wrote.
The agency notes that the EU will be able to survive the upcoming heating season, as it has bought enough oil and gas. At the same time, the world’s poorest countries, which have been cut off from the gas market due to increased demand in Europe, will bear much greater costs.
Bloomberg warns that as a result, developing countries could experience plant shutdowns, more frequent and longer power outages, and a social crisis that could drag on for a decade.
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