In short, there is a global shortage of gas and energy supplies. There are two main reasons for this. Firstly, Europe is feeling the prolonged effects of last year's cold winter - stored gas supplies were left much lower than normal. Secondly, we saw a spike in demand for liquefied natural gas (LNG) in Asia, after the continent also experienced a cold winter. When these two issues combined, energy prices soared, particularly across these two continents.
Why is there an energy crisis in Europe?
Why is there an energy crisis in Europe?
Why is there an energy crisis in Europe?
In short, there is a global shortage of gas and energy supplies. There are two main reasons for this. Firstly, Europe is feeling the prolonged effects of last year's cold winter - stored gas supplies were left much lower than normal. Secondly, we saw a spike in demand for liquefied natural gas (LNG) in Asia, after the continent also experienced a cold winter. When these two issues combined, energy prices soared, particularly across these two continents.