Posted 1/21/2024, 6:00:00 AM
Europe Builds Up Gas Reserves, Benefits from Renewables, Easing Energy Crisis Fears
- Europe has built up record gas reserves and is benefiting from renewables and mild winter, reducing energy crisis fears
- Prices have plunged from 2022 highs, boosting confidence in getting through winter with gas to spare
- Europe now relies more on renewables but faces challenges like intermittency and securing foreign LNG
- Risks remain like Middle East instability, loss of Russian gas, and extreme weather straining systems
- Declining Asian prices and disruption at Suez, Panama Canals are wild cards that could affect Europe