From the Editor: Europe’s gas supply balance remains precarious [Gas in Transition]

From the Editor: Europe’s gas supply balance remains precarious [Gas in Transition]

-
Natural Gas News
From the Editor: Europe’s gas supply balance remains precarious [Gas in Transition]

Summary

Many factors are in play, but the basic fact is Europe needs to maintain its gas conservation efforts, keep importing large volumes of LNG and hope for clement weather. [Gas in Transition, Volume 3, Issue 3] by: Ross McCracken

“On a knife edge” is how the Bruegel group appropriately describes Europe’s summer gas supply and demand balance. It is a description which contrasts heavily with the feeling of relief accompanying the end of the Winter 2022/23 heating season Europe has done extremely well to weather the storm of Russia’s invasion of Ukraine. Gas inventories are far higher than anyone had a right to expect, which provides a solid base for rebuilding back to 90% by the start of the next heating season on October 1. Europe’s previously spare LNG regasification capacity has been used to the full and new import capacity has been rolled out at extraordinary speed, a process which will continue over the course of 2023. In addition to the new floating storage and regasifica...