EU Tells Capitals to Cut Gas Demand Amid Rising Supply Concerns
- Europe warned member states today of an energy crisis, urging governments to consider curbing demand as continental LNG reserves sit about 20 percentage points below normal levels ahead of winter.
- Middle East disruptions have forced Saudi Arabia to pause crude and fuel shipments to Europe, with three key facilities—Yanbu, Samref, and Yasref—operating below capacity on the Red Sea, now a 'tinderbox' following militia attacks.
- Fuel prices have jumped to above $6 per gallon in the United States and over €2 per liter in Europe, signaling a "major" potential supply problem if supply chains are not restored by Christmas.
- Unlike 2022 and 2023, when Russia's invasion spiked prices rapidly, Europe is "facing a slow-motion crisis," says Ana Maria Jaller-Makarewicz, an analyst at IEEFA, as structural market tightness persists.
- Thierry Bros, a professor at Sciences Po Paris, says Europe's only exit is to "diversify and to destroy demand," while political uncertainty ahead of November elections could further constrain fuel availability.
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176 Articles
Europe is going through a difficult period due to both the threat of Russian aggression and an energy crisis. With the Ukraine-Iran conflict causing an energy impasse, natural gas reserves in Europe are approximately 12 percentage points below last year's levels as winter approaches. The European Union (EU) is urging member states to meet their natural gas and electricity consumption...
Letter from the Commissioner for Energy, but Italy responds that the offer is still high
Europe is approaching winter with gas reserves at significantly lower levels than in previous years, while war and disruptions in the Middle East are making LNG supplies more expensive and more uncertain. The European Commission has warned member states that gas reserves remain at “exceptionally low” levels, after a hot and dry summer that increased the use of gas for electricity generation and reduced the amount available for filling undergroun…
El Periódico
European Energy Commissioner Dan Jørgensen has asked European governments to consider taking measures to reduce the demand for gas and electricity, arguing that doing so could help to contain the rise in prices, according to a letter to which EL PERIODICO has had access. Continue reading...
In view of high gas prices, the EU Commission is once again urging Member States to save energy. Energy Commissioner Dan Jørgensen recommends, among other things, lowering room temperatures in public buildings.
The EU insists that "for the time being, the EU's energy supply remains stable".
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