European Gas reserves will be exhausted within six weeks

Gas reserves at Europe’s underground storage facilities (UGS) could run out in as little as six weeks if European countries decide to block gas supplies from Russia.

The document contained in the report of the British consulting group Wood Mackenzie says:
“If all gas flows [from the Russian Federation] stop today, the current gas reserves will be exhausted within six weeks, and if the outages continue, gas reserves cannot be restored during the summer.”

In this case, Europe will face a catastrophic situation, when gas stocks in the coming winter will approach zero.

According to Wood Mackenzie analysts, in this case, in any geopolitical scenario, the European Union risks approaching the winter of 2022-2023 with record low gas reserves.

At the same time, they noted, European politicians are unlikely to agree to block gas imports from Russia, because the EU simply cannot find alternative quantities to replace its supplies.

 

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