International Energy Agency warns Europe of possible gas shortage in 2023

This is reported by CNN with reference to the Executive Director of the IEA, Fatih Birol.

“When we look at the latest trends and likely developments in global and European gas markets, we see that Europe is set to face an even sterner challenge next winter. This is why governments need to be taking immediate action to speed up improvements in energy efficiency and accelerate the deployment of renewables and heat pumps – and other steps to structurally reduce gas demand. This is essential for Europe’s energy security, the wellbeing of its citizens and industries, and its clean energy transition,” Birol said.

The International Energy Agency reports that Europe could face a supply-demand gap of 30 billion cubic meters of the blue fuel to fill gas storage in 2023 if the Russian Federation stops all pipeline supplies and imports of liquefied natural gas.

The potential deficit could be nearly half of the gas needed to fill storage at 95% capacity by the start of the 2023-24 heating season, the IEA added.

The organization, which provides analysis and recommendations on global energy policy, said it was highly unlikely that Russia would supply another 60 billion cubic meters of pipeline gas in 2023. It warns that Russian supplies to Europe may stop completely.

• Italy has not imported gas from the Russian Federation for more than a week. This is the first time since 1974.

• Earlier, the European Commissioner for Energy stated that Europe is ready to winter without Russian gas.