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Europe raced to shore up its vitality provides within the wake of Russia’s invasion of Ukraine, and it seems to have averted a worst-case situation this winter — largely because of liquified pure gasoline.
For years, Europe was closely depending on Russian pipeline gasoline. However when Russia attacked Ukraine, and Europe may not rely on these gasoline flows, it pivoted onerous to LNG, a versatile vitality supply that comes largely from the US, Qatar, Australia and Algeria.
Europe has efficiently crammed its gasoline storage capability to 95%, which suggests all ought to be OK this winter. However subsequent winter is a unique story.
As a result of Europe was so reliant on Russia, it has restricted LNG import capability. European nations are scrambling to construct new infrastructure to have the ability to import extra of it.
CNBC visited the one LNG terminal in Greece that receives, shops and turns the important gas again into gasoline. Watch the video above to be taught extra.
#CNBC #LNG #NaturalGas #EnergyCrisis #RussiaUkraineWar
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Mon, 02 Jan 2023 10:00:20 GMT
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