... causes of these risks, including limited LNG availability and geopolitical challenges. We also look at the EU's response—expanding LNG imports, building strategic reserves, and improving energy efficiency—to ensure energy security. As founder of Open Oil Market, I emphasize the importance of a resilient energy strategy to secure stable, affordable supplies for businesses in uncertain times. Gas Supply Risks for Europe This Winter: Causes and Measures to Ensure Energy Security Energy security has always been a priority for the European Union, particularly in the winter months. However, given the ...

... economy. Europe is facing serious challenges in securing gas supplies for the winter of 2024–2025. The reduction in Russian gas supplies, global competition for LNG, and unpredictable weather conditions underscore the necessity for strengthening energy security.... ... work collaboratively to ensure the stability and availability of energy resources in the long term. As the founder of Open Oil Market (OOM) , a platform for wholesale trading of oil products and resources, I deeply understand the importance of a strategic ...

... is vital for the country’s energy security and has no intention of sharply reducing it. Moreover, the Indian leadership has engaged in a form of trade bargaining: according to Reuters, India has expressed willingness to reduce the share of Russian supplies and conclude deals with other countries (including the US) only conditionally on comparable acceptable prices for energy resources being offered. Essentially, India has signaled that compensating for the cessation of cheap Russian oil without incurring economic losses will be challenging. In confirmation of this, India's state bank has estimated that a complete cessation of oil imports from Russia would cost the country approximately $9 billion in the current fiscal year and up ...

... advantage of price discounts. Similarly, significant volumes of LNG are arriving from Qatar, Australia, and through the spot market, bypassing American gas. At the same time, Europe continues to reduce its energy dependence on Russia. Imports of Russian oil and petroleum products into the EU are under embargo, and gas supplies have been reduced to minimal levels. The European Union is actively developing infrastructure to accept LNG and is seeking new long-term contracts with alternate gas suppliers. However, a complete rejection of Russian gas has not yet been realized—some ...

... infrastructure of U.S. allies, such as Saudi Arabia or the United Arab Emirates, adds Bousso. The primary risk for oil markets remains the potential blockage or disruption of tanker traffic through the Strait of Hormuz, which accounts for one-fifth of global oil and gas supplies, he further emphasizes. Why Prices are Declining The escalation in the Middle East has occurred, but it had been anticipated by traders, said Alexey Gromov, the Chief Energy Director at the Institute of Energy and Finance. He explained that the ...