ReportedShipping, energy & marketsEuropean Union
IEEFA says the EU may need a 7% winter gas-demand cut
- Mountain Time
- Local time
- 10:30 AM UTC
- Where
- European Union
The Institute for Energy Economics and Financial Analysis said EU gas storage was about 73% full in early October, the lowest level for this point in the year since records began, and that the bloc could need to cut winter gas demand by 7%. OilPrice.com reported that curtailed Qatari LNG flows through the Strait of Hormuz have tightened supply.
Why it matters
European governments and gas consumers may need to plan demand reductions or secure additional supply before winter if LNG shipping through Hormuz does not normalize.
Source
- OilPrice.comoilprice.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels