EU could face gas deficit of 27 billion cubic meters (bcm) in 2023, IOC warns
The EU has secured enough natural gas for this winter but could face gas shortages next year if Russia cuts supplies further, the European Commission and the International Energy Agency (IEA) have warned.
Specifically, the EU could face a gas shortfall of 27 billion cubic meters (bcm) in 2023, the IOC warns, if Russia cuts the small share of gas it still delivers to Europe and China’s gas demand recovers from the lows caused by the lockdown.
Total gas consumption in the EU was 412 bcm in 2021, according to EU data.
At a press conference, European Commission chief Ursula von der Leyen said the bloc’s gas supply was “secure for this winter” and the EU was preparing for next.
The IOC also said that potential gas shortages could be avoided by expanding subsidies and policies to save energy by renovating homes and replacing fossil fuel-based heating with heat pumps.
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