Afraid of a New Energy Crisis: Does Europe's Gas Market Threaten the Toughest Winter Since 2022?
6 Articles
6 Articles
The German gas storage systems are as empty as they are not at this time of year. Officially, that's no problem. It's supposed to boil behind the scenes.
Europe and Germany in particular are facing a difficult heating period: Low storage levels, rising prices and geopolitical tensions are putting the supply under pressure. At the same time, there is a threat of tougher competition for LNG deliveries.
A gas market that has been turned upside down. This is the explanation why the EU's natural gas reserves, which are supposed to help both businesses and families through a cold winter, are currently far too empty. As Børsen wrote yesterday, the gas reserves are only 61 percent full.
The European Union’s gas reserves currently stand at around 61% of its capacity, the lowest level for these dates in recent years, even below that recorded in 2021. In recent days, gas prices have risen and, on 18 August, the futures of TTF gas reached their highest value since the beginning of 2023. The need to restore inventories is already pressing prices this summer, while the level of reserves with which Europe reaches October will conditio…
The upcoming winter appears to be the most difficult for the European Union in terms of energy supplies since the winter of 2021-2022. This is highlighted by an analysis by Oxford Economics at the University of Oxford. At the beginning of the winter, stocks should be similar to those before the crisis winter, when Russia reduced gas supplies before the start of the invasion of Ukraine. The Czech Ministry of Industry and Trade told Echo24 that st…
One month before the end of summer, the European average of natural gas reserves does not reach 60% and there are Member States far below the minimum limit of 80% set by the European Commission, such as Germany, the largest consumer of gas on the continent, which is below 50%. With no end in sight for the war in Iran, and even with the restructuring of the energy sector under way since the Russian invasion of Ukraine in 2022, industry and consum…
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