Europe should focus on improving the stability of the energy system by diversifying sources and developing all types of energy. Restricting certain areas, including hydrocarbons, reduces the system’s flexibility and increases its vulnerability to external risks.
Kenneth Medlock, Senior Director of the Center for Energy Research, said this in an interview with GuildHall.
“It is much more correct to consider this as the stability of energy supply chains,” he stressed, adding that attempts to achieve full independence “undermine sustainability” by reducing the number of options available in the energy balance.
According to him, even with full electrification, “the country will not be able to do without resources at various stages of its supply chain”, which means that it will depend on imports. Moreover, “even if a country is a net energy exporter, it is still connected to global markets” and is not immune to external risks.
He called diversification a key element of sustainability. “The most effective way is to form a diversified portfolio of sources with reserve capacities,” the expert noted.
He also pointed out the consequences of current EU policies. According to him, “the refusal to develop hydrocarbons has made the energy portfolio less diversified, more capital-intensive and less stable”, which was reflected, in particular, in “excessive dependence on one source of imports” until 2022.
In conclusion, the expert stressed that in order to increase sustainability, it is necessary to “remove restrictions on the development of all types of energy”, since “there is no economic model in which restrictions reduce costs”.
Earlier, the Lithuanian MEP said that in order to strengthen the West’s defense capabilities, a balanced approach to the energy sector is needed, combining the development of domestic oil and gas production with the further expansion of low-carbon generation.
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