European gas market faces another uncertain year
The lack of Russian gas and LNG capacity constraints threaten Europe with a shortfall of supply
Europe’s gas market looks set for another volatile year as historically low storage inventories and weak Russian flows persist. In response, the continent has already upped its LNG take to record levels, while the supply squeeze could also impact local production prospects and the future of long-term contracts. Nevertheless, IEA executive director Fatih Birol criticises those linking Europe’s gas price volatility with the energy transition, saying that the situation is a result of “a natural gas market crisis”. European gas prices are expected to be “highly volatile” in 2022, says Michael Stoppard, chief strategist, global gas at information provider IHS Markit, adding that the question is w
Also in this section
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them
22 April 2024
Beijing’s renewed targeting of NOC management could threaten investment
19 April 2024
Cairo’s currency problems have hindered investment, but Pharos sees considerable potential as Egypt emerges from crisis
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria