Gas in record prices with reservations trembling

We started the month of March and, in the southwest area of ​​Europe, The rains are going to be persistent This month. In a nutshell, the cold is not going to go so fast and we will have to face it with something fundamental in many homes: gas. However, lighting the stove will involve a challenge because gas reserves in Europe are on the verge of freezing.

Crisis in Europe. The year began with Russia Cutting the gas supply To Europe, which was circulating through Ukraine. This has caused Europe to have to depend of the American LNGQatarí and Australian, as well as Turkstream Gas Pipeline. However, what really worries is the state of gas reserves, which are 35-40% of their capacity against The price increase and demand for increasingly cold climatic conditions.

Reservations. The European Union has several times brought breast certifying that They did not have to depend more on Russia or what The reservations were enough. However, the data has something else to say: gas deposits in Europe They are 35-40% of their maximum capacitya much lower level than previous years that reached between 55-60% at the same time of the year.

This situation has resulted from the sum of many factors, such as the loss of Russian supply, a especially cold winter and the lack of renewable generation by he Dunkelflaute. In addition, EU storage policies They have distorted the marketsince the imposed objectives force countries to buy gas at the same time, which raises prices and discouraging from Traders to accumulate reservations during the summer.

The problems. After encounter between Zelensky and Trump On February 28, where I don’t know has reached any agreementinternational political tension remains latent. This episode leaves a key uncertainty in the air: if the relationship between the United States and Europe is affected, the American LNG dependence becomes an even greater risk. Europe has been increasingly trusting LNG imports, especially from the United States, as a key source to replace its gas reserves. If the US GNL supply is interrupted or conditioned by political or economic issues, the EU could face a serious gas scarcity.

Start opening windows. As the saying says: “When a door closes …”, something like that should be considered in Europe because for next winter the reserves do not know if they will be able to complete, but it has much to offer in clean energy. First, repair the electrical infrastructure because with more than 40 years is time to change it. Then research and implementations in some countries of other alternative energies are paying off, such as The case of Spain and Portugal. Thirdly, start bet on geothermia In countries with colder or even Biomethane.

Forecasts. Last night, in England, European leaders They congregated with Zelensky to demonstrate his support to the Ukrainian President and consolidate the unity around the crisis in Ukraine. However, this meeting underlines the fragility of the energy situation in Europe, since any alteration in international relations can translate into a supply problem. Given an increasingly uncertain scenario, the question is whether Europe will get ahead of problems or continue to depend on external factors to guarantee its energy safety. Next winter will be the definitive test: either the energy sources are diversified and the infrastructure is reinforced or the continent will be on the edge of the collapse again.

Image | Pxhere

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