International Energy Agency: "Russia Burning Gas, Difficult to Maintain Production Levels"

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[Asia Economy Reporter Hyunwoo Lee] The Executive Director of the International Energy Agency (IEA) pointed out that as the effects of Western countries' sanctions on Russia begin to show, Russia's gas stocks are accumulating, and it will become difficult for Russia to maintain its production levels. He emphasized the need to maintain solidarity among Western countries, stating that additional releases of strategic petroleum reserves may occur if necessary.

On the 29th (local time), Fatih Birol, Executive Director of the IEA, attended an energy-related conference held in Stavanger, Norway, and said, "Russia will burn more gas in the coming months as its gas storage continues to fill up," adding, "As the effects of Western sanctions begin to appear, it will become increasingly difficult for Russia to maintain production levels."

He continued, "IEA member countries will release additional strategic petroleum reserves if supply disruptions occur by the end of November," and explained, "There are still substantial reserves." Executive Director Birol emphasized the importance of Western countries' solidarity in sanctions against Russia, stating, "This winter will be a test of Europe's unity, and if Europe fails this test, the impact will be felt much more severely than the current energy crisis."

In fact, Russia is reportedly burning large amounts of gas as gas exports to Europe become difficult due to sanctions against Russia. According to the British BBC, Russia is burning gas worth about $10 million (approximately 13.4 billion KRW) daily at a natural gas production plant near the border with Finland.

Miguel Berger, the German Ambassador to the UK, explained in an interview with the BBC, "The reason Russia is burning gas is that it cannot sell it elsewhere," adding, "Europe's efforts to reduce dependence on Russian gas are having a significant impact on the Russian economy."

This content was produced with the assistance of AI translation services.