Energy crunch deepens as US warns Europe doesn’t have enough gas for winter

Goldman Sachs analysts say curbing demand is the only option to rebalance market

13 September 2021 - 20:27 By Elena Mazneva, Anna Shiryaevskaya and Rachel Morison

Europe’s energy crunch is deepening, with gas and power prices hitting fresh records after the US warned the continent isn’t doing enough to prepare for what could potentially be a dire winter.

With about a month to go before the start of the heating season, Europe doesn’t have enough natural gas in storage sites and isn’t building inventories fast enough either. Amos Hochstein, the US state department’s envoy for energy security,recently said he was worried about supplies this winter...

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