Czech Republic faces a natural gas supply crunch
16 / 09 / 2022
Michal Hrubý is a researcher at the EUROPEUM Institute and specializes in topics related to the industries. He delved into the gas demand and supply conditions in the Czech Republic to understand the scope for gas savings and the likely ripple effects of possible shutdowns in the industries. Asked about the support package to the industries the government put forward this week, he says: “The financial support of CZK 30 billion might fall short of shielding the industries. At best it can add a breathing space for a shorter while.”
His analysis considers multiple scenarios for demand reductions. “Czech Republic is fully reliant on the gas transmission from Germany, and as we witness record low gas import these days, consumption cuts are inevitable.” He concludes. “My thought experiment showed that 15% cut is sufficient this winter. Over the medium term, in all scenarios considered, Czech Republic needs to double its currently booked LNG capacity to cover the domestic consumption.”
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