The Russia-Ukraine war is causing, among other effects, a major energy crisis across Europe. The Old Continent is facing a gas shortage (Russia is the main supplier) and the need to find other forms of supply. But how could gas shortage in Europe affect Puerto Rico?
Russia currently supplies up to 40 per cent of the European Union’s gas consumption. The sanctions to which it is being subjected because of the conflict with Ukraine have led Vladimir Putin to cut gas deliveries to other countries. This situation is leading many European experts to speak of the worst energy crisis in the last 50 years.
What effects the gas shortage in Europe has on Puerto Rico
A crisis of this magnitude could affect Puerto Rico to a great extent. Puerto Rico’s gas customers would have to rely on diesel fuel, which will increase the demand for this product. Therefore, gas shortage in Europe may lead to a market complication right after the end of the hurricane season.
Generally, with the end of the hurricane period comes a period of calm in terms of energy supply. However, on this occasion we cannot let our guard down in view of what is happening in Europe since, as we say, the availability of gas may become scarce and the demand for other energy alternatives will be much greater.
How to keep your company prepared
In this sense, it will be necessary to be well prepared for such a situation. American Petroleum offers you the following recommendations so that the gas shortage in Europe does not affect you too much:
- Keep fuel volumes stable. Do not be overconfident with the fuel levels that you may have in your company. The demand for the product will grow in the coming months and it is likely that the guarantee of supply will not be 100%.
- Expand the storage capacity. To avoid problems in this regard, we always recommend expanding the storage capacity to have a larger fuel reserve. There are two options for this:
The gas shortage in Europe is not, therefore, a problem totally foreign to Puerto Rico. This shortage can lead to dependence on diesel, so we must be attentive to the situation of this fuel in order to have access to it and its demand.