Europe’s Gas Extends Record Rally on Russian Supply Woes, Wind

A couple of years ago I made a prediction. I predicted that Russia would run out of gas and may – in time – turn into an importer of LNG even. That was – of course – pretty drastic and not something I expected to happen very soon but we are bearing the end of life of the Russian superfields Urnegoy and Yamburg. That was slated to come around 2022 to 2024. And those two monsters produce a lot of gas for the Russian system. Their absence will be felt. Has Russia developed enough alternatives? I would at least raise some question marks. Europe is in more trouble than it even thinks it is.

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