Europe braces for coldest winter yet

Date:

Gas reserves under pressure

Temperatures across Europe are forecast to drop sharply by the end of the week.

London, Paris, and Berlin are expected to see average temperatures below freezing on Friday and Saturday, according to data from the International Meteorological Service. These temperatures will be around 6 degrees Celsius lower than the normal average of the past 30 years. The UK Met Office predicts some snow in the coming days, along with extreme winds and rain.

Germany’s meteorological service, DWD, has also issued warnings for frost and ice across the country.

This cold snap, the chilliest period so far this winter, is likely to drive up heating demand, drawing on natural gas reserves that have fallen below 75%. Withdrawals from reserves have already been faster than usual this year. Combined with the looming expiry of the Ukraine-Russia gas transit agreement, this has pushed European natural gas prices close to the high levels seen earlier this month.

The potential loss of Russian gas flows could make Europe more reliant on liquefied natural gas (LNG) imports from the US. However, colder weather in the US is also driving up domestic demand, adding further strain to global gas supplies.

Also read: British exit from Cyprus? Potential lease of bases to the US

Source: newmoney.gr

Share post:

Popular

More like this
Related

Cyprus sets plans on 2026 EU Presidency with strategic push

The Republic of Cyprus has launched an “ambitious” schedule of...

Cyprus participates in European Project “Genome of Europe”

Center of Excellence biobank.cy of the University of Cyprus...

10 of the best TV shows of 2025 so far

From the latest season of the dystopian workplace drama...

Rewrite the rules? Trump’s 2028 merch sparks debate

Donald Trump’s online store has released a new product:...