Bloomberg: Energy crisis in Europe will cause blackouts in Asia for several years

Alexey Belogoryev, Deputy Principal Director on Energy Studies of the Institute for Energy and Finance, commented to Business FM on the risks of violating contracts for the supply of energy resources to developing countries due to increased European demand:

“Risks are mainly associated with power generation, because supply for most countries in South and Southeast Asia is still a secondary issue due to climatic conditions. Gas is mainly used either in the electric power industry or in the chemical industry, for the production of fertilizers, and partly in metallurgy. That is, it is mainly industrial production, to a lesser extent - domestic use. Therefore, the social significance here is not as high as, for example, in Europe or in the same Japan, South Korea. But the role of gas in power generation and industry is high. Pakistan, Bangladesh and some countries in Southeast Asia, including Thailand, may be most affected. India in this sense can feel more secure, although for her the value is also prohibitive”.