The dash for gas is intensifying in Europe as it steps up efforts to secure supplies amid rising geopolitical and supply challenges.
The expired EU, Ukraine and Russia gas flows deal has a raft of fresh consequences across international markets.
Despite volume reductions, Russia remains Europe’s second largest supplier of LNG despite sanctions. Europe will likely have to increase its LNG imports from the US at a time when American domestic winter season pressures are heightened.
Moreover, any supply challenges and rise in energy prices could reverse the downward trajectory on inflation – not the kind of new year message any politician wants to deliver.
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