Experts: Europe faces ‘unprecedented risk’ of a gas shortage

By DAVID McHUGH
AP Business Writer

Europe is facing unprecedented risks to its energy supply this winter. That’s the word Monday from the International Energy Agency. The IEA says in its quarterly gas report that people in the European Union will have to cut gas use at least 13% over the winter if Russia cuts off the last trickle of gas that’s flowing to Europe. The Paris-based group says only by saving can Europe avoid a severe shortage if Russia halts gas flows completely over the war in Ukraine. Europe also could wind up competing with Asian countries for scarce supplies of liquefied natural gas that come by ship. Things will be even tighter if the weather is cold late in the winter.