Economy · Greece
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2 July
Europe's low natural gas reserves are a concern as winter approaches.
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Europe is entering the winter season with its lowest natural gas reserves in the past 15 years, raising concerns over potential price increases for both gas and electricity during the heating period. According to estimates from Wood Mackenzie, the situation has created uncertainty as the continent faces one of its most challenging seasons since the energy crisis of 2022.
The combination of low reserves and geopolitical factors, including developments in the Strait of Hormuz and the role of Qatar in the global gas market, could further complicate the supply landscape. Although these conditions have sparked fears of renewed price hikes for businesses and households, the European Commission has sought to reassure the public regarding the situation. As the winter approaches, the European gas market is navigating a precarious and uncertain path.
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