In 2024, the gas market in Europe may seem calm, but the underlying threats are just as great. The continuing war in Ukraine, the Gaza conflict, and deep tensions throughout the Middle East mean the energy security environment is becoming increasingly volatile.
Europe is facing tough choices as it confronts Russia’s unexpected reentry into European gas markets in the form of steadily increasing deliveries of liquefied natural gas (LNG). A fourteenth round of sanctions adopted in June are designed to help curb these supplies. At the same time, Europe risks gas shortages if there are no alternative LNG supplies on hand.
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