#EU_Gas: The price fell by 50% compared to August. Now the price on the European spot market is below €1,900 per 1,000 m3. This will surely stabilize the market and reduce inflationary pressure. However, in the short and medium term, this does not solve the structural⤵️
problems of the larger EU economies that were running on cheap gas. Moreover, further spikes in price are still possible due to continued gas shortage as LNG production comes from long-term contracts and production capacities. Therefore, LNG imports cannot completely replace⤵️
Russia's gas pipeline in subsequent years. The EU still relies on the Norwegian gas pipeline which now imports more than Russia, mainly because Russian gas stopped flowing through NS1 and other routes (except for part of the pipeline that crosses Ukraine).⤵️
At the moment, the EU has 85% of its gas storages full, but this percentage is not uniform across the union. The energy security of the EU looks better, but it depends on the temperatures during the winter and the solidarity within the EU in saving energy.
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