Europe's natural gas stocks are plummeting amid escalating tensions between Ukraine and Russia.



German media reported that Germany's natural gas inventories fell to 40%, much lower than in the same period last year.



Germany's energy supplier board chairman Marcus Kreber feared that a complete cut off of natural gas in Russia could only last for a short period of time, such as several weeks.



Accordingly, Germany emphasized the need to diversify natural gas sources and improve access routes for liquefied natural gas and LNG through its ports.



The European Union and the European Commission have also begun preparing countermeasures in case gas supply is cut off in Russia.



The EU relies on Russia for 40% of its natural gas supply, and the EU does not expect Russia to completely shut down its gas supply yet.



This means the closure of Northstream 2, a gas pipeline that connects Russia and Germany directly through the Baltic Sea, and Russian President Putin will not implement such measures.



Russia has cut its natural gas supply to the EU several times to meet its goals.



When Russia stopped supplying natural gas to Ukraine in the winter of 2009, a gas crisis became a reality in the EU.



When Ukraine began receiving large-scale gas supplies from Slovakia in September 2014, Russia completely stopped gas supplies to Europe using Gazprom, a state-owned gas company, until March of the following year.



However, there was no significant impact at the time due to the large inventory in Europe.

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