Europe could face gas shortage next year: IEA
If Russia stops pipelines deliveries completely
03 November, 19:06- 'Danger of complacency' - Russia has drastically cut supplies to Europe in suspected retaliation against Western sanctions over its invasion of Ukraine, but the region was able to fill storage sites for this upcoming winter. The IEA said Moscow delivered 60 billion cubic metres of gas to Europe this year but that it was "highly unlikely" that Russia would provide the same amount in 2023 and could cease deliveries entirely. And while Chinese LNG imports were lower in the first 10 months of this year, the world's second biggest economy could grab 85 percent of the expected increase in global LNG supplies if its purchases recover next year. European Union governments have urged business and households to conserve energy this winter in efforts to lower demand and scrambled to find alternative suppliers. Norway has overtaken Russia as Europe's main natural gas supplier. The region has also shipping LNG from other countries at a rate that has caused bottlenecks at ports. Gas prices, meanwhile, have fallen sharply. But Birol said Europe's gas storage sites may only be 65 percent full in 2023, compared to 95 percent this year. "With the recent mild weather and lower gas prices, there is a danger of complacency creeping into the conversation around Europe's gas supplies, but we are by no means out of the woods yet," Birol said in a separate statement. Birol warned that Europe will face "an even sterner challenge" next winter. "This is why governments need to be taking immediate action to speed up improvements in energy efficiency and accelerate the deployment of renewables and heat pumps -- and other steps to structurally reduce gas demand," he said. (ANSA-AFP).