By Rhod Mackenzie
The International Energy Agency (IEA) has warned that Europe could still face a very difficult winter if Russia cuts gas supplies to the continent and if cold weather sets in in the region.
Even if European gas storage facilities are 100% full by October thanks to lower prices in recent months, the IEA estimates that this "does not guarantee" protection against possible market tensions, according to the Financial Times.
“Our simulations show that a cold winter, coupled with a complete shutdown of Russian pipeline gas supplies to the European Union ... could easily restart price volatility,” the IEA notes in its annual gas market report.
“In order to ensure a reliable gas balance in the European market in the winter of 2023/24, further structural reduction in gas demand will be required, including through energy efficiency, the rapid development of renewable energy sources and the installation of heat pumps,” the IEA said in a document.
This article originally appeared in Russian at expert.ru