Europe made mistake in ditching long-term gas deals – Putin

Have they really made a mistake by ditching long-term contracts? I doubt that. Europe has made a mistake by not filling storage to appropriate levels. A short-term world is not a problem as long as you have a fast buffer that you can tap into. Of curse, that costs money but you can fill it when prices are low. They are not high all year. On-demand energy is more expensive than linear deliveries 24/24 and 365/365. You can pay your supplier to give you what you need, or you can store up for excess demand. It’s a choice. But running storage costs money now and our disaster planning is gone with the wind anyhow.

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