Outages could drive renewed European gas price volatility
Europe is better prepared than last winter, but risks remain
Europe’s high LNG import volumes last winter “pushed assets to the limit... and we will have to catch up on maintenance”, says Arno Bux, chief commercial officer of Belgian gas transmission system operator Fluxys and president of Gas LNG Europe, part of industry association Gas Infrastructure Europe (GIE). Speaking at the recent GIE conference in Riga, Bux warned that both import terminals “and also to some extent transport assets” were operating at or even above capacity. As a result, “there will be more unforeseen unavailability than in the past”, he says, adding that, while such outages “might not be an immediate or fundamental threat to security of supply”, they would “definitely contrib
Also in this section
26 April 2024
While the US has been breaking records for its premium grade crude, there are doubts over whether you can have too much of a good thing
26 April 2024
Slowing demand growth and capacity expansions will squeeze refiners in coming years
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields