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
Period: 30.04.2025 Expectation: 12000 pips
ETHUSD set to test upper boundary of downtrend channel
Today at 11:30 AM 26
Period: 25.04.2025 Expectation: 500 pips
AUDUSD to fall to 0.63000
Today at 09:54 AM 14
Period: 28.04.2025 Expectation: 3100 pips
Buyers may retake initiative in USDJPY with target of 146.00
Today at 08:41 AM 14
Period: 02.05.2025 Expectation: 229 pips
Selling natural gas with target of 2.900 amid warm weather in US and Europe
Today at 07:01 AM 13
Period: 02.05.2025 Expectation: 1000 pips
Technical rebound of NVIDIA stock to result in pullback to 95
Yesterday at 11:27 AM 43
Gold sell
Period: 25.04.2025 Expectation: 7000 pips
Gold to correct to level of 3,250
Yesterday at 10:02 AM 100
Go to forecasts