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Europe faces energy crisis as gas reserves hit 13-year low FAST-MOVING
European energy markets are facing significant concern as natural gas storage levels in the EU reached only 63% in late August, well below the historical 80% average for this period. Analysts, including professor Greg Molnar, warn that the EU could enter the winter heating season with reserves approximately 20% below the five-year average, marking the lowest levels since 2013.
Geopolitical instability in the Middle East, specifically disruptions in the Persian Gulf and the Strait of Hormuz, has hindered LNG exports and oil supplies. This situation has heightened the risk of price volatility. The United Kingdom is noted as particularly vulnerable due to its high consumption and low domestic storage capacity, with Centrica CEO Chris O'Shea stating the UK has almost no gas in storage for the upcoming winter.
In Croatia, while gas supplies are secured via LNG terminals, consumers may face price increases of 7% to 8% starting in October. Meanwhile, in Bosnia and Herzegovina, diesel prices have risen to 3.55 KM, driven by global crude oil price spikes linked to Middle Eastern conflicts.
Entities
Bosnia and Herzegovina · Centrica · Croatia · Dalibor Pudić · European Union · Gradska plinara Zagreb · Greg Molnar · HERA · Igor Grozdanić · Oleg Butković · United Kingdom
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] Diesel prices in Bosnia and Herzegovina reached 3.55 KM due to Middle East geopolitical instability pogled.ba · tip.ba
- [● 6 SOURCES] Centrica CEO Chris O'Shea stated the UK has almost no gas in its storage for the upcoming winter www.bl-portal.com · etv.me · otvoreno.me · www.ot.gr · www.klix.ba · +1 more
- [● 10 SOURCES] EU gas storage levels were 63% full in the last week of August www.bl-portal.com · etv.me · otvoreno.me · rama-prozor.info · www.ot.gr · +5 more
- [● 10 SOURCES] Greg Molnar predicts EU gas stocks will enter the heating season approximately 20% below the five-year average, the lowest level since 2013 www.bl-portal.com · etv.me · otvoreno.me · rama-prozor.info · www.ot.gr · +5 more
- [● 2 SOURCES] SEB chief commodity analyst Bjarne Schieldrop noted that panic is beginning to spread in the market rama-prozor.info · www.klix.ba
- [● 3 SOURCES] Gradska plinara Zagreb director Dalibor Pudić estimates Croatian gas prices could increase by 7 to 8 percent in October www.dalmacijadanas.hr · www.dnevno.hr · n1info.hr