Given this refusal, could Vladimir Putin carry out his threat? “It is possible”replies Bruno Colmant, “But everyone would lose. The Russians could no longer export and we would have a cut.”
Russian gas exports now account for 45% of European gas imports. Turning off the tap could therefore have an impact of this magnitude. At the national level, however, the economist is much more reassuring: “Belgian gas comes mainly from Norway (41%, ed.) and the Netherlands (34.5%, ed.)”, assures Bruno Colmant. Only 6% of Belgium’s gas supply comes from Russia. So there shouldn’t be a supply problem.
Words that the cabinet of Federal Energy Minister Tinne Van der Straeten (Groen) also confirms, especially since Belgium “only uses a third of the imported gas, the remaining two thirds are intended for ‘export’. “The current situation shows that diversifying gas from different producing countries is the right strategy and gives us confidence in Belgium’s security of supply. Supply is secured even without Russian gas. Belgium can easily import natural gas from other sources through various channels, by ship and by pipeline in all possible directions.”
And our country could also see an increase in the transit of gas from other producing countries through our gas pipelines to neighboring countries that are more dependent on Russian imports.
A decrease or interruption in supply from Russia will affect the price of natural gas in Belgium
“On the other hand, gas prices could go up, and by definition, so could electricity prices, since they’re modeled on gas prices.”, adds Bruno Colmant. As Laurent Jacquet, Director of the CREG (Commission for the Regulation of Electricity and Gas), “there The price of natural gas on the wholesale markets that serve as a reference for Belgium is set at the level of Western Europe and is determined by the mechanism of supply and demand, a decrease or interruption in supply from Russia affects the price of natural gas in Belgium. “ However, it is impossible to predict how significant these increases might be.