Europe responded to Russia cutting natural gas flows by stockpiling the fuel and curbing use, but whether it runs out might depend on winter weather
in February, disruptions have wreaked havoc on Europe’s energy markets. Russia has been reducing gas flows to Europe since the spring in what Western officials have called an economic attack to punish Europe for its support of Ukraine. On Friday, the Kremlin-controlled energy giant Gazprom said it would indefinitelySupply disruptions in the U.S. have hit exports of liquefied natural gas that Europe has banked on to diversify away from its longtime dependency on Moscow’s energy.
A street on the outskirts of Frankfurt, Germany. Companies in Europe have reduced production and officials have urged citizens to conserve energy ahead of winter.A mild fall and winter would have the opposite effect. That is because European utilities and governments typically fill up their gas stores during summer when demand is lower and then withdraw from them in the colder winter months. Higher temperatures could push those withdrawals further down the line.
“Even in a mild winter, there can be brief cold phases,” said Dominik Jung, managing director at Germany-based weather-forecasting service Q.met GmbH, which works with energy companies and utilities. Alexandre Fierro, senior meteorologist at commodity broker Marex, said weather is expected to be mostly warmer and drier until December compared with the long-term average. Forecasting service AccuWeather expects European temperatures this autumn to be 1 to 2 degrees Celsius, or around 2 to 4 degrees Fahrenheit, above normal.
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