Ben Van Beurden Warns Europe on Energy!

Shell CEO Ben Van Beurden has warned that Europe may face a difficult period with high electricity bills in the coming years due to Russia's restrictions on natural gas imports.

European oil giant Shell CEO Ben Van Beurden made evaluations to journalists at a conference held in Stavanger, Norway. Beurden, a successful businessman, said that European countries could spend the next few winters paying high electricity bills if Russia further cuts natural gas deliveries. Beurden added last month that energy markets will remain tight as supplies are tight and prices are volatile not only for the rest of this year but also into next year. While energy prices in Europe have risen 6 times compared to a year ago after Russia invaded Ukraine and cut gas flows, European Union member states have so far allocated about 280 billion euros ($278 billion) to aid packages to bring down energy prices. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!