Concerns persist, although the probability of an energy crisis in the EU is decreasing this winter

It was stated that the European Union (EU) must continue to take measures to reduce the consumption of natural gas in order to survive the coming winter period.

The study by the Brussels-based think tank Bruegel entitled “Gas Outlook in Europe in 2023” has been published.

According to the study, the probability of an energy crisis in the EU this winter has decreased due to the emergency measures implemented last year and the warm winter months.

According to the study, where the outlook for the coming winter is still unclear, it is predicted that the EU may have to fill up its gas tanks for the coming winter, reduce consumption and compete with China in LNG supplies.

NEEDS TO REDUCE DEMAND 13 PERCENT

To prevent Europe from suffering an energy crisis next winter

In this context, especially gas storage facilities must be 90 percent full by October 1, 2023.

In order not to experience an energy crisis next winter, the EU needs to extend the deadline of the gas demand reduction decision, which will expire on March 31, 2023, and reduce gas demand to fill the stores.

If gas flows from Russia via pipelines continue at current levels next winter and temperatures stay within normal seasonal levels, the EU should cut its gas demand by 13 percent.

It is forecast that if natural gas supplied by pipelines from Russia is cut off completely and the winter is cold, more drastic measures will be required, in which case the EU may have to reduce its gas demand by 26 percent to survive the winter period.

‘BY THE END OF WINTER, STORES WILL BE AT A HIGH LEVEL’

On the other hand, next month is the deadline for implementation of the EU decision to reduce demand for natural gas by 15 percent. Member States are expected to extend this period.

At the end of the EU winter period, gas tank occupancy is expected to be higher than last year.

Gasoline tanks currently have a fill level of approximately 73 percent.

The EU will also start concluding joint gas purchase contracts this year.

OCCUPANCY RATE IN GERMANY 78.6 PERCENT

On the other hand, Gas Infrastructure Europe announced the occupancy rate of its gas storage facilities in Germany as of February 1.

Consequently, the occupancy rate of natural gas storage facilities in Germany was recorded at 78.6 percent.

It should be noted that the amount in question was double the occupancy rate required in the new regulation made after the Russia-Ukraine war. (AA)