Naturgy has issued a stark warning that Europe faces the risk of natural gas shortages this winter, citing the impact of newly imposed sanctions on Russia.
The Spanish utility’s assessment highlights the fragility of the continent’s energy supply chain as geopolitical constraints tighten just months before the peak heating season begins.
The alert comes at a critical juncture for European energy markets.
Storage levels across the region have already declined to their lowest point in 15 years, raising significant concerns among traders and industrial users about the ability to meet winter demand.
With traditional supply routes from Russia increasingly restricted, the market is grappling with a structural deficit that cannot be easily offset by alternative sources in the short term.
Market participants are now focused on the pricing implications of this tightening supply.