“For Europe, the decisive moment will come in the winter,” the article says.
It is noted that energy consumption may increase due to abnormal heat, which will make it even more difficult to create gas reserves in the summer for the winter season.
In addition, the closure of many European factories and power outages in residential buildings are not ruled out.
“There is a possibility that at the end of the year the European economy will be in recession,” the article concludes.
On July 26, EU energy ministers reached a political agreement to voluntarily reduce demand for natural gas by 15% between August 1, 2022 and March 31, 2023.
The purpose of the decision is to save gas in anticipation of winter in order to prepare for possible interruptions in supplies from Russia.
Earlier, Igor Yushkov, a leading expert of the National Energy Security Fund, commented on the situation in the EU energy industry in an interview with PolitExpert.