European Gas to Make It Through Upcoming Winters: Engie

Europe is likely to pull through this winter and the next as it makes up for dwindling Russian natural gas flows with supplies from elsewhere and reducing its demand according to the head of Engie Jean-Pierre Clamadieu.

• “For this winter, the feeling is that we’ll manage” he said, adding “Our experts at Engie have the feeling that we should manage to go through next winter without too many difficulties”.
• He said Europe’s ability to save energy, weather and an ability to attract LNG cargoes will all be key.
• It contrasts to the IEA, which has concerns about replenishing stockpiles without Russian flows next year.
• Europe will face expensive costs for gas as the EU struggles to agree on price caps or implement efficient joint purchases of LNG, he said.