As War Drags on, Winter Gas Shortages Loom in Europe
15 Articles
15 Articles
Is Europe going to run out of gas and float this winter? European stocks have never been so low at three months of the winter season, of course, because of the war in the Middle East. Could it cost a lot of money to fill up gas?
Bloomberg reports that Europe is heading into winter with dangerously thin gas reserves, a shortfall that threatens to intensify competition for supply on the global market
According to Bloomberg's own calculations, European countries still need to inject over 100 terawatt-hours of gas, worth more than €7 billion at current prices, just to reach the region's lowest storage target of 75%. Hitting that number would...
Europe is ending the summer with extremely low gas reserves, which could trigger fierce global competition for winter supplies and even create a situation on the world market similar to the 2022 energy crisis, Bloomberg wrote.
Gas reserves in Europe ' s underground storage facilities rose to 65.63% on 1 September, as reported by the Gas Infrastructure Europe (GIE) Association of European Gas Infrastructure Operators.
Europe is bracing for winter with low gas reserves. Replenishment could cost billions, while gas prices could continue to rise.
Even if these quantities of natural gas are covered, storage capacity will still not exceed 75%, Bloomberg estimates The post Natural gas: 7 billion shortfall in reserves in Europe – Concerns about price increases in winter appeared first on in.gr.
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