Energy security comes to the fore for European infrastructure
by CBRE Investment Management
The article, which was published in May 2022 is available at:
Will Europe be short on natural gas this winter?
The European Union plan to end fossil-fuel imports from Russia, titled REPowerEU, aims to reduce Russian gas supply by two-thirds by the end of this year, scale up renewable electricity and refill gas reserves to 90 percent of capacity ahead of next winter. The plan is challenging over the short term, as there are not many alternative sources of gas globally. So far, Europe has been successful in securing additional LNG supplies, but this has come at a substantial cost.
Even with all the solutions in place, and depending on the level of gas storage, disruption of Russian gas supply will likely leave a gap of natural-gas supply in Europe th