Supply chaos clouds European gas outlook
Europe may be pushing to diversify gas imports, but two surprise supply shocks have put the sector on edge
Disruption to European gas supply following the explosion at Austria's Baumgarten gas hub on 12 December, along with the shutdown of the Fortes Pipeline System (FPS) supplying oil and gas to the UK from North Sea fields, have highlighted energy security concerns on a continent where gas demand is on the rise. The Baumgarten explosion, which hub operator Gas Austria Connect has said could be related to a technical fault in the filter system, knocked out a critical nexus for trans-European supply to several countries, including Italy, Germany, Croatia, Hungary and Slovenia. It sent gas and electricity prices soaring in the immediate aftermath of the incident. In Italy, which was worst affected
Also in this section
9 January 2026
OPEC+ remains on track as output falls, with only Gabon failing to hit its output targets in December, although Kazakhstan’s compliance was involuntary
9 January 2026
The Latin American producer’s crude prospects rely on a multi-pronged approach where even the relatively easy wins will take considerable time, effort and cost
9 January 2026
While many forecasters are reasserting the importance of oil and gas, petrostates should be under no illusion things are changing, and faster than they might think
8 January 2026
Indonesia and Malaysia are at the dawn of breathtaking digital capabilities. Their energy infrastructure must keep up with their ambitions
