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European Gas Safe This Winter: IEA

NATURAL GAS

The EU has enough gas for the current winter but could face a shortage next year if Russia cuts supplies further according to the IEA earlier.

  • If Russia was to cut the small share of gas it still delivers to Europe, and Chinese gas demand rebounded from lockdown lows, the EU could face a gas shortfall of 27 billion cubic metres (bcm) in 2023, the IEA said.
  • Von der Leyen said the bloc's gas supply was "safe for this winter" and the 27-country EU was preparing for the next one.
  • The EU is still attempting to agree a gas price cap in the background which has left EU nations divided. Von der Leyen said she hopes the EU can agree a gas price cap in the next few days.
  • The EU managed to curb its gas consumption by 50 billion cubic meters this year due to a combination of household energy conservation, lower industrial output and mild weather, according to the IEA
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