∙ Paid
Europe increased its imports of Russian gas by more than 10% year on year in Q2, while at the same time legislating to eliminate those imports entirely by 2027. This hands Russia considerable leverage over a continent heading into winter in worse shape than it was going into the last energy crisis.
Europe Is Weaker Than It Was in 2021
We have been writing since March about the shortfall in European gas storage injections. The position has deteriorated with almost every passing week, and we now lower our forecasts for a third time.
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