Nevertheless, the Minister acknowledged that the issue of rising energy prices risks getting even worse due to the current situation.

For Claude Turmes, the Russian invasion is "a brutal assault on Ukraine". As for the energy sector, the Minister for Energy assures that there is currently no risk of shortages, neither for gas, nor for electricity or oil. Nevertheless, the Minister acknowledged that the issue of rising energy prices risks getting even worse due to the current situation. For this reason, the Minister stresses, it was "crucial" that the government decided on Thursday morning to organise a meeting with the country's energy suppliers and start working on concrete measures to support people and companies dealing with increased costs.

Turmes expects prices to remain at a high level in 2022 and 2023 "because we don't know how much misery Putin will cause in Ukraine". Luxembourg has to prepare for any possible scenarios, but the Minister assures that Luxembourg's energy supply is "guaranteed". The government will propose concrete measures in the next few days, as prices can become "relatively extreme" in the near future.

According to Claude Simon, head of the energy sales department at Enovos, gas prices have doubled over the past months. Simon confirms that the general public should expect even higher prices in the future.

The geopolitical situation will in any case not improve the situation on the energy market, Simon states, specifying that in the past two months, about 25% of all gas consumed in the region came from Russia. 50% came from Norway or the Netherlands and another 25% came in the form of liquid natural gas, which is transported to Europe on large cargo ships.

Considering this situation, Minister for Energy Claude Turmes is "optimistic" when it comes to this winter season. According to Turmes, there is enough liquid natural gas coming to Europe through ships. In addition, Luxembourg has "a certain reserve" in its gas tanks and combined with a "relatively mild winter", this should be enough to secure the Grand Duchy's gas supply for this winter season. The Minister explained that Luxembourg is part of a Luxembourgish-Belgian gas market and in addition to pipelines delivering gas from Norway and the Netherlands, the Belgian port of Zeebrugge is "one of the biggest terminals for ships transporting liquid natural gas".

As for the next winter, Turmes stresses that it is paramount to ensure that Luxembourg's gas tanks are filled from the beginning. The government is currently in the middle of taking the necessary preparations, according to the Minister.

The full report by RTL Télé (in Luxembourgish):