EU sent alarming warning as energy war with Russia ‘not over’ as ‘risky winter’ looms

Gas storage is currently around 65 percent full across the bloc, but new storage facilities are being built in Germany, the Netherlands, Greece, Finland to help boost capacity.

However, filling these sites could prove to be a challenge as competition for LNG soars and temperatures next winter drop again.

Livia Gallarati, a Senior Analyst at Energy Asepcts, echoed these concerns.

She told DW News: “There are a lot of factors that could lead to tight markets next winter in particular. That might mean prices could rise back up again.

“For example, China is coming back to the market with the Covid situation easing over there. Industrial demand could be coming back in Europe now that prices are a little bit lower. We can’t rule out a cold spell in the winter in the next couple of months and also Europe will need to balance next winter with a lot less Russian gas than it ever did before.

“All of this could mean we are facing a very hard situation and even in the longer term we need to consider what high prices are going to do to European industry, which is something will continue to face for many years to come.”

Article source: https://www.express.co.uk/news/science/1738791/eu-energy-war-russia-gas-International-Energy-Agency-fatih-birol