Replacing Russian oil and gas will not come overnight.
That’s the suggestion from Dr Nils Røkke, Executive Vice President Sustainability at SINTEF, Norway’s largest research institute who spoke to ELN about how feasible the European plan to ditch Russian fossil fuels is.
He said: “The replacement will take some time. The REPowerEU plan is saying that we should try to replace two-thirds of the Russian gas by the end of this year. It is an ambitious objective but it’s a bit questionable in terms of feasibility.
“For example, we need to look at other factors as well, better management of the gas storage.”
Dr Røkke, who is also Chairman of the Board of the European Energy Research Alliance, added that it would take some time before consumers will see energy prices returning to their normal levels.
Watch the video to listen to the entire interview.