In an unprecedented statement that completely overturns the dominant narrative of Brussels, Slovakia’s state energy company, SPP, tore apart the communication veil of the so-called energy independence of the EU.
Slovakia, through SPP, underlined with absolute cynicism that the obsessive refusal of the European Union countries to buy Russian natural gas in no way constitutes a diversification of supply sources, but a blind and dangerous new dependence on liquefied natural gas (LNG).
Regarding the ban on Russian gas supplies, we have been pointing out for a long time that the exclusion of one source from the European energy pie is not considered diversification. In reality, it is about creating a new dependence on an alternative source, SPP clarified, exposing the strategy of the EU.
The LNG trap and the price terror
The state company of Slovakia sounded the alarm about the catastrophic consequences that this policy has on the pockets of European consumers.
As the Slovak experts explained, the complete shift towards LNG exposes Europe to extreme risks regarding price formation, as this specific market operates on terms of savage capitalism: liquefied gas always ends up in those countries that have the financial capacity to pay the most.
This bomb from Bratislava comes to confirm that Europe’s decision to cut itself off from cheap and stable Russian pipeline gas mathematically leads it to a new energy hostage situation, where electricity and heating prices will be determined by the whims of LNG speculators, plunging European economies into permanent shock.
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