If Russia Turns Off the Tap: LNG Could Boost European Energy Security

The true scale of Europe’s energy crisis hit home last month when Commerzbank published data showing the current stockpile of natural gas across the European Union.

“Current inventories are about 47% of full capacity,” Bernd Weidensteiner, senior economist at Commerzbank in Frankfurt, told DW back in late January. “Normal for this time of the year is about 60%…so we are significantly lower.”

Indeed, a Commerzbank graphic posted to Twitter shows that, in previous years, EU inventories have ranged from 60% to more than 85% in January.

read more