20 December 2022 | Other

Energy crisis in Europe to worsen in 2023

Europe will face a difficult task to replenish gas stocks next year compared to this winter. This means electricity bills will remain high and governments will have to introduce rationing measures they have so far avoided.

Gas supplies from Russia have declined significantly. Therefore, replenishing storage will become more difficult as fuel reserves are going to be exhausted by early 2023, according to Reuters.

It will also be harder for governments weakened by high energy prices to bear the cost of purchasing gas on the open market.

Fatih Birol, Executive Director of Paris-based International Energy Agency (IEA) said that filing storage ahead of cold season next year will be much harder compared to this year.

According to the IEA, Europe could face a shortage of approximately 30 billion cubic meters of fuel next winter, equivalent to nearly 7% of 2021 demand.



Company MarketCheese
Brent sell
Period: 17.07.2025 Expectation: 150 pips
OPEC's gloomy forecast drags Brent crude prices lower
Today at 08:53 AM 6
Period: 17.07.2025 Expectation: 26000 pips
Institutional investor demand could push ETHUSD to 3,000
Yesterday at 10:38 AM 34
Period: 16.07.2025 Expectation: 2000 pips
USDJPY prepares to retest 148 Level
Yesterday at 08:19 AM 38
Period: 16.07.2025 Expectation: 900 pips
NVIDIA shares rise amid global AI infrastructure investments
09 July 2025 66
Period: 15.07.2025 Expectation: 800 pips
Breaking downtrend could push USDCAD to 1.375
09 July 2025 44
Period: 14.07.2025 Expectation: 1600 pips
Upcoming “Crypto Week” to boost bitcoin prices
08 July 2025 109
Go to forecasts