KPMG has issued a warning that Europe cannot take natural gas supply security for granted this coming winter, citing the convergence of a ban on Russian gas, a strained global market, and low storage levels.
The consultancy argues that the continent faces significant challenges in ensuring adequate supplies as the heating season approaches.
The firm proposes enabling more flexible commercial exchange mechanisms for liquefied natural gas (LNG) to help substitute for lost Russian volumes.
This recommendation comes as European utilities and governments scramble to diversify supply sources and manage price volatility in a market that remains sensitive to geopolitical shifts.
The assessment aligns with earlier warnings from Naturgy, which highlighted the fragility of Europe’s gas infrastructure amid newly imposed sanctions on Russia.
While Europe is actively seeking alternative suppliers, the immediate reality involves paying premium prices to fill storage gaps, complicating the path to a stable winter supply.