European countries will clash over natural gas.
(Baonghean.vn) - The scramble for natural gas among European countries could lead to energy shortages this winter, CNN writes, simultaneously predicting a "battle" over green fuel.
Europeans have begun scrambling to buy liquefied natural gas (LNG), destabilizing the entire market. However, if EU countries manage to significantly reduce their dependence on Russian gas, global demand for this fuel by the end of this year will exceed supply by 26 million tons.
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| Illustrative image. Photo: Getty Images |
"By excluding Russian gas, Europe has destabilized the entire global LNG market, which entered the new year in a precarious state after a turbulent 2021," said consulting firm Rystad Energy.
"All the conditions have arisen that could lead to regular supply shortages, soaring prices, significant volatility, and increased geopolitical relations in the gas sector," the report stated.
The economies that will likely face the most severe consequences of the current situation are probably the poorest in Asia, CNN concludes.
