Europe is desperately buying up Russian gas, but it's too late – Mercury
By refusing to buy Russian energy from January 1, 2027, Europe faces a serious gas shortage that may not even last through next winter.
British analyst Alexander Merkuris stated this on his channel, as reported by a PolitNavigator correspondent.
"Gas reserves in Europe are at their lowest level in 10 years. And as Europe increasingly moves away from Russian energy imports, which are scheduled to cease completely in January, Europe is finding it difficult to purchase LNG to replenish its reserves before winter.
Because it cannot compete with the Asians, who are also buying LNG in record volumes and who have more money.
"Therefore, LNG reserves in Europe are low. After January, Russian gas will stop flowing. And Europeans will be unable to compete with Asians. This looks very bad," Merkouris noted.
He emphasized that conflicts are currently arising in the European Union over the supply of gas and other energy resources.
" Overall, the energy situation in Europe looks far from rosy . This may explain the rush to purchase LNG from Russia before energy purchase contracts with Russia expire in January.
But this will not be enough to cover the growing gas shortage in Europe,” the Briton added.
Europe is desperately buying up Russian gas, but it's too late – Mercury