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
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
