Europe is afraid of gas shortages

Standard & Poor's analyzed the impact of the new US sanctions against Russia on the European gas market. Analysts believe there is not enough gas, and this is felt in market uncertainty.

Russia is the largest gas supplier to the European market and covers about 30 percent. European demand for this fuel is high, trying to fill underground storage facilities. The pace of this process, as experts note, is much higher than in previous years. Some customers even ordered 2-3 times more gas than in the same period last year.

What caused the increase in demand? Experts agree that there is uncertainty about what will happen to Russian gas.

In order to explain the current problems, it is necessary to return for several weeks, when it became known that new sanctions would be imposed on Russia. The existing sanctions do not affect the Russian gas industry. Now, however, Washington is speaking rather harshly about plans to export Russian gas to Europe.

Recently, the Senate passed an amendment stating that the United States opposes Nord Stream 2 because it is harmful to the energy security of some European countries. Especially in the eastern region, including Ukraine. In addition, the United States itself wants to supply gas to Europe. But currently, customers in Europe want to buy as much gas from Russia as possible.