IEA: How the European Union can avoid gas shortages in 2023

I am not worried about China sucking the LNG market dry in 2023. Firstly, the Chinese economy has started to stall and most of that has very little to do with COVID. Xi knows that he needs to deflate the economy and that there will be mayhem. This also means that China will go for the one thing that they have in their own country – coal – even more so. Why pay for expensive gas if coal is plentiful? Oh and – even if gas prices in Europe have fallen to a much less crazy below 100 EUR/MWh it’s still way too high for making Europe competitive again. Our problems run much deeper than just gas shortages. 

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