Chart of the Month February 2022 | Diversification of gas supply sources in Europe

In the February edition, the chart covers an analysis about the diversification of gas supply sources in Europe and Greece. The current crisis in Ukraine, the high dependence on Russian gas and high gas prices create an unprecedented turbulence in the gas sector.

It is evident, that a possible disruption of Russian gas supply will affect a lot of EU countries causing a supply-demand deficit. The physical bottlenecks of the current NG network will complex the actions to diversify NG sources.

The high dependence on Russian gas, the currently high NG prices, and low NG storage levels in combination with physical bottlenecks and long-term contracts are creating a difficult-to-solve equation. There is a need for political commitment and immediate actions to lower the consequences to end-users and ensure sufficient gas supply.