Europe reacted quickly, after the outbreak of war in Ukraine and the threat of the Russian gas tap being cut off, by diversifying its supplies and importing liquefied natural gas (LNG) on a massive scale.
European LNG demand has already increased by almost 65% compared to 2021, particularly benefiting American suppliers, who have seen their exports soar by 150%.
A paying strategy since the stocks were almost 90% full at the end of September, underlines the International Energy Agency (IEA).
The surge in gas prices (at the peak in August, they had increased almost tenfold over one year) led to both a drop in consumption and a transfer to coal and oil.
Gas demand in Europe has already fallen by more than 10% between January and August compared to the same period in 2021. The figure reaches 15% for industry, as some factories have reduced production.
Unpredictable Russia
Supporting the saving messages advocated by governments…
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