European Gas Reserves Hit Record Low Amid Iran Conflict
The Independent reports that Europe faces the risk of a natural gas shortage this winter due to decreased gas production and depleted reserves resulting from the ongoing conflict with Iran. Prices are expected to rise, and European gas stocks could fall to record lows. Britain heavily relies on imports, as it cannot store more than 5% of its annual needs, making it vulnerable to shortages and high prices—especially given the damage sustained by the Ras Laffan terminal in Qatar due to Iranian attacks, which could impact the stability of gas supplies in the region.
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