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Europe’s spending on gas accumulation calculated: Markets: Economics: Lenta.ru

Bloomberg: European countries spent $104.8 billion to fill gas storage facilities

European countries spent a whopping $104.8 billion to fill gas storage facilities ahead of the winter season. This is reported Bloomberg with reference to the expert of the Brussels analytical center Bruegel Ben McWilliams.

The huge costs and efforts to prepare for winter show the extent to which Europe is still paying the price for its dependence on Russian gas, which once accounted for 40 percent of supplies, the expert said. Now this figure is below 20 percent.

The Agency emphasizes that the desire EU to fill the tanks before the onset of the first cold weather required the maximum use of alternative sources from Norway before United Arab Emirates. At the same time, costs are likely to increase even more in the future.

In a recent conversation with Lenta.ru, an analyst at FG Finam Andrey Maslov admittedthat an anomalously warm autumn, a record filling of underground gas storage facilities can help Europe to get through a difficult winter period almost painlessly. However, some difficulties may arise in the matter of industrial production.

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