2022-10-16
Fortune provides a downbeat analysis of Europe's options for energy supply in winter 2023/24 ...
"Any hope that flows along the Nord Stream could resume before next winter were effectively dashed at the end of September when the pipeline was damaged and began leaking hundreds of thousands of tons of methane into the North Sea"
(but note that apparently one of the four pipes may still be operational)
But while Nordstream may remain largely inoperable for a time even if Ukraine makes peace with Russia, there is more downside to come if they don't:
“The main fear is also whether flows via Ukraine and TurkStream get cut, in which case it could intensify the energy crisis over the coming and next winter”
Meanwhile as other economies around the world stage a recovery, the demand ofr gas will increase, pushing up the already high price of energy:
“It is very difficult to predict what will happen with COVID In China, but there is a rather high probability that there will be some economic recovery which will lead to higher LNG demand”
So what other options do the Europeans have?
