Gas reserves are abnormally low: Europe faces blackouts due to severe cold weather

The energy crisis in Europe could intensify if the temperature in the region is too low in January 2022.

This opinion was expressed by the executive Director of the Italian company Snam Spa Marco Alvera in an interview with Bloomberg.

“If the winter is cold, we will face really serious problems,” the expert said.

The cold winter period leads to an increase in the consumption of blue fuel, which in turn empties underground storage facilities and even leads to the fact that the pressure in the storage facilities will be insufficient for further gas withdrawal.

If this scenario comes true, natural gas prices will skyrocket. Currently, gas reserves in Europe are abnormally low – PGMs are filled only by 68% up from 77% last month.

According to Marco Alvera, creating strategic gas reserves is very important and should become a matter of national security.

This issue was brought up for discussion during a meeting of European energy ministers in Brussels.

According to Italian Minister of Economic Development Giancarlo Giorgetti, if there is not enough gas to generate electricity, it will threaten Europe with blackouts.

Gas crisis in Europe

During this heating season, the European region was hit by a powerful energy crisis and high gas prices.

Experts cite several reasons, including:

• insufficient filling of underground gas storage facilities;
• pressure from Russia in connection with the certification of Nord Stream 2;
• an unsuccessful attempt to completely switch to renewable energy sources;
• weather;
• a sharp jump in demand after the coronavirus crisis.

High exchange gas prices in Europe may be reflected in Ukraine as well. It will not be easy for Ukrainian food producers, since expensive blue fuel makes maintenance of greenhouses and the purchase of compound feed inaccessible.

Segodnya also wrote that Ukraine is forced to import greenhouse vegetables and even meat and milk from other countries.