Europe risks running out of gas for winter 2023-2024

Europe risks running out of gas for winter 2023-2024< /p> UPDATE DAY

Europe risks running out of gas for the winter of 2023-24, the International Energy Agency (IEA) warned on Thursday, calling on governments to “act immediately” in particular to reduce the demand. 

Some 30 billion cubic meters of gas could well be lacking next year, in the event of a complete halt in deliveries from Russia, but also due to the economic rebound of China, which would come to absorb a large part of the LNG, estimates in its calculations the IEA, created by the OECD in 1974 to advise countries on energy matters.

European reserves would then no longer be filled only 65% ​​at the start of winter 2023-2024, compared to 95% today, its director Fatih Birol told a few journalists during an online press conference.

“The “cushion” provided by current reserve levels, together with the recent drop in gas prices and unusually warm temperatures, should not lead to co overly optimistic inclusions about the future”, warns the IEA in this analysis, which underlines that by the summer of 2023 the global geopolitical and economic conditions for sourcing and filling reserves should have changed significantly compared to 2022.