Europe’s Energy Crisis Goes from Bad to Worse

cc ruben van eijk, Flickr, modified,

Natural gas is spiking in Europe, where prices are up almost five times since 2019, fueling fears of economic disruption when colder winter weather arrives later in the year. The supply crunch is the result of several trends unfolding simultaneously. First and foremost is reduced exports from Russia. Deliveries via the strategic Yamal pipeline are well below their normal rates: 20 million cubic meters (mcm) per day in mid-August, as opposed to the 81 mcm that’s expected this time of year.

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