2/3 of the gas in the EU reservoirs is from the beginning of winter, the beginning of winter, the reservoirs were full and contained 110 billion m3, which is almost 1/3 of the annual consumption, imports from Norway and LNG from “outside Russia” have been stable for half a year, Russian LNG imports (volume) went down year-on-year in every quarter in 2023 at today’s price last year gas was only “after winter” in May 1/4 of a year later at an overpriced price gas was in the summer of 2021
Do you know how much gas there will be in the summer of 2024? Yes: A lot and cheap, and even the cheap will go in the hoppers.
Do you know what the value of Russian gas exports will be in 2024? Low, lower than 2023 and a fraction of the 2022 value.
First, we were supposed to freeze in the winter of 22/23. It didn’t work out. Then we were supposed to run out of gas reserves before the end of this winter 2022/24. There will definitely be scarecrows that the Russians will close it at 24/25 and it will be cold.
Um, except that it wouldn’t be.
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