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European industries are struggling to stay competitive amid soaring energy costs.Surging natural gas and electricity costs have resulted in a jump in operational costs for all industries, from steelmaking and car manufacturing to textiles and clothing.Europe’s industry associations cautiously welcome the various EU proposals, but urge Brussels to take further actionGerman industry is not competitive without inexpensive energy piped in from Russia based on longterm contracts rather than spot prices. LNG transported by ship is too expensive. So while Germany may be able to met its gas needs by bidding up the price of energy, this will not address the competitiveness issue. But even that is hypothetical, since the infrastructure for importing LNG is not yet in place and LNG is also
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European industries are struggling to stay competitive amid soaring energy costs.Surging natural gas and electricity costs have resulted in a jump in operational costs for all industries, from steelmaking and car manufacturing to textiles and clothing.Europe’s industry associations cautiously welcome the various EU proposals, but urge Brussels to take further actionGerman industry is not competitive without inexpensive energy piped in from Russia based on longterm contracts rather than spot prices. LNG transported by ship is too expensive. So while Germany may be able to met its gas needs by bidding up the price of energy, this will not address the competitiveness issue. But even that is hypothetical, since the infrastructure for importing LNG is not yet in place and LNG is also
Topics:
Mike Norman considers the following as important:
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- European industries are struggling to stay competitive amid soaring energy costs.
- Surging natural gas and electricity costs have resulted in a jump in operational costs for all industries, from steelmaking and car manufacturing to textiles and clothing.
- Europe’s industry associations cautiously welcome the various EU proposals, but urge Brussels to take further action
German industry is not competitive without inexpensive energy piped in from Russia based on longterm contracts rather than spot prices. LNG transported by ship is too expensive. So while Germany may be able to met its gas needs by bidding up the price of energy, this will not address the competitiveness issue. But even that is hypothetical, since the infrastructure for importing LNG is not yet in place and LNG is also restricted by the scarcity of vessels required to transport the desired quantities.