Europe’s gas crunch could return as Goldman Sachs predicts winter spike
Mild weather and weak demand for LNG by China saved the continent this winter, but it’s uncertain whether those conditions will last
Europe’s gas market crunch could return next winter, with the potential for prices to more than double with a revival in demand.
Mild temperatures and efforts to curb consumption have seen benchmark natural gas slump to less than €40 a megawatt-hour from the record levels reached last August in the wake of Russia’s squeeze on pipeline flows.
Complacency among consumers — from industries to power plants and households — risks a market tightening later this ...