Why Europe’s Energy Crisis Is A Disaster For Emerging Economies ...Middle East

The surge in natural gas demand from Europe has led to a surge in prices that has devastated emerging economies in other parts of the world and this devastation could drag on for years, Bloomberg reports. “Energy security concerns in Europe are driving energy poverty in the emerging world,” Saul Kavonic, Credit Suisse energy analyst, told Bloomberg. “Europe is sucking gas away from other countries whatever the cost.” The fact is that European countries can afford to pay a premium for natural gas while poorer nations…

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