(MondoNBC)
The power crisis gripping Europe has little to do with Vladimir Putin and it could be argued that the Russian leader’s actions have helped improve the situation, according to Per Lekander, managing partner at Clean Energy Transition LLP.
During a wide ranging interview with CNBC’s “Squawk Box Europe” last week, Lekander — previously a fund manager at Lansdowne Partners — spoke about how the situation facing energy markets had evolved in recent months.
This summer, after Russia had cut the light I thought the winter would be enormously dire,” he said.
“I really thought it ... could be a large part of German industry shutting down ... widespread cuts … and it has panned out — so far — much, much better.”
Referencing additions in solar power capacity and liquefied natural gas terminals, Lekander went on to hammer home the importance of reducing demand.
“I would say power demand is down 10%, gas demand is down around 20, a bit higher on the industry, a bit less on ... personal, a bit more in the north, a bit less in the south, but … that’s roughly it,” he said.
“So I would say, on the gas side, the worst is over from a security of supply situation.”
