Given the increasing storage levels, the coming winter appears to be fairly easy for European countries to process. But one cannot rest on one’s laurels, as the International Energy Agency (IEA) is now warning – if Russia were to stop supplying completely, there is a risk of huge bottlenecks next year.
If Russian pipeline gas imports are completely halted and China imports liquefied gas back to usual levels, nearly half of the gas for a 95 percent fill of storage facilities could be missing, the IEA said in Paris on Thursday.
China as a decisive factor
Filling gas storage facilities in the EU this year has been favored by key factors that may not repeat next year. These include gas deliveries through Russian pipelines, which, while drastically reduced over the course of the year, were largely at normal levels in the first half of the year.
In addition, China’s lower imports of liquefied natural gas (LNG) in the first ten months of this year were instrumental in supplying Europe with more LNG to offset declining Russian gas supplies.
“We’re still a long way from over the hill”
“With the recent mild weather and lower gas prices, there is a risk that complacency will creep into the discussion about Europe’s gas supply, but we are far from over the hill,” said IEA director Fatih Birol.
“Looking at recent trends and likely developments in the global and European gas markets, we see that Europe will face an even greater challenge next winter.” and heat pumps and reduce the demand for gas.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
