EU Could Face Gas Shortage Next Year, IEA Warns

EU Could Face Gas Shortage Next Year, IEA Warns
The President of the European Commission Ursula von der Leyen gives a press conference on REPowerEU: outlook on EU gas supply in 2023, at the European Council Building in Brussels on Dec. 12, 2022. John Thys/AFP via Getty Images
Reuters
Updated:

BRUSSELS—The European Union has enough gas for the winter but could face a shortage next year if Russia cuts supplies further, the International Energy Agency (IEA) said on Monday, urging governments to act faster to save energy and expand renewable energy sources.

Despite Russia slashing gas deliveries this year, Europe started the winter with brimming gas storage tanks—thanks in part to emergency EU measures to fill storage, plus a lucky spell of mild weather and high gas prices that dampened demand for the fuel.