‘LNG is an expensive way to keep the lights on. Cutting EU gas demand is now key’
PODCAST: With special guest Steven Geiger of Innova Partners
“This is not so much a ‘Russian gas’ issue; the flag on the pipeline or on the [LNG] tanker is not as important as the overall dependency on gas for the EU and Germany in particular. The immediate thing is to keep the lights on and that’s going to involve a ramp-up of LNG imports, but at what price? It’s not just a security if supply issue, it’s affordability of supply too.”
Listen again to Steven Geiger, founder and president of Innova Partners, discussing the hard choices facing European countries as they scramble to wean their economies off Russian energy exports.
Steven spoke at length about the need to look beyond the question of replacing Russian gas in the electricity sector and attack the real elephant in the room: decarbonisation of residential and industrial heat demand.
This means moving on from fruitless debates over a mooted nuclear revival in Germany, and attacking the ‘stickiest’ source of demand for gas. Sustained investment in long-term seasonal heat storage fuelled by l…