TheBadPlaceEnglish – The Conversation | Why Europe can still face a gas crisis without a gas shortage by Marzia Sesini, Research Team Leader - Molecules&Materials, European University Institute
Gas prices in Europe have risen again following disruptions to LNG supply chains linked to tensions in the Middle East.
This comes as the European Union enters the final phase of its plan to phase out Russian gas. The scale of the physical disruption is limited when compared with the loss of Russian pipeline flows in 2021 and 2022, yet the price response has been disproportionately large.
This contrast points to a change in how risk is transmitted in the European gas system. In moving away from Russian gas, the EU has reduced exposure to physical supply interruption, but it has not removed exposure to price shocks.
Marzia Sesini explains how energy security affects both prices and volumes.
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Read more: https://theconversation.com/why-europe-can-still-face-a-gas-crisis-without-a-gas-shortage-278917
#europeanunion #russiangas #repowereuplan #middleeast #usenergy
Why Europe can still face a gas crisis without a gas shortage
A gas crisis could challenge Europe next winter if its gas reserves are not replenished. The phaseout of Russian gas and LNG by late 2027 is a major part of the EU’s gas diversification strategy but it exposes the continent to price volatility.
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