The European Natural Gas Crisis That Wasn’t One – Business AM

At the end of January, gas reserves in Europe are still more than 80% full. This is though Cool surprise In Western Europe in mid-January.

Why is this important?

European Union member states have been trying for nearly a year to find natural gas suppliers other than Russia since the latter invaded neighboring Ukraine. However, this proved difficult at first, as 40% of all natural gas imported came from the territory of dictator Vladimir Putin. There was a real crisis looming on the continent, but it ultimately did not materialize.

Basic: The situation is much better than it was in January 2022, when gas stocks were only 53% full.

  • Even in previous years, 80% was an unheard of level. The average for the past five years is about 65% at the end of January.
  • Over the next few months, stocks will go down, but the trend is also better there. The lowest level was reached last year, when only 26% of capacity was U

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