Media predict a new gas crisis in Europe

Europe is threatened by a new gas crisis. This was reported by Bloomberg on November 23.

"Rapidly depleting gas reserves and the looming reduction in supplies from Moscow create the preconditions for a new energy crisis in Europe, which is still not recovered from the strongest shocks of two years ago", - stated in the publication.

According to the agency, gas prices rose by 45% during the year due to the conflict in Ukraine. At the same time, the cost growth has slowed significantly compared to 2022. However, there is a possibility that the situation may change and the European Union (EU) will start buying gas at any price.

One of the key factors that could contribute to a further increase in gas prices in the near future is the cessation of pipeline gas supplies from Russia, which is still purchased by a number of European countries, Bloomberg specified. In addition, delays in the delivery of liquefied natural gas from the U.S. and cold weather during the winter period may also contribute to the cost increase.

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On the same day, Deputy Chairman of the Russian Security Council Dmitry Medvedev said that residents of European countries are freezing because of the cessation of Russian gas supplies to European countries.

In October, Gazprom head Alexei Miller said at a plenary session of the St. Petersburg International Gas Forum that Europe's policy on the gas market could lead to a new gas price shock and supply disruptions. He called the situation on the European gas market bad and agreed with the assessment that demand for energy resources there is being destroyed purposefully.

In the same month, financial analyst Mikhail Belyaev described the EU's desire to limit energy supplies from Russia as a consequence of the fact that Europe was on the verge of crisis and faced difficulties in development. As a result, some industrial enterprises had to close down and some had to move to other countries. Because of this contradiction, European countries are forced to return to the previous supply scheme, the expert explained.

Western countries increased sanctions pressure on the Russian Federation after the start of the special operation to protect the peaceful population of Donbass, which was announced on February 24, 2022.