Europe energy crisis to last more than a winter, analyst says

Russia’s invasion of Ukraine upended energy flows and rippled through global markets, driving up natural gas prices in Europe and forcing drastic measures 

“This is not a one winter story,” Amrita Sen, chief oil analyst at the industry consultant, said in a Bloomberg television interview.

Europe’s crippling energy crisis could extend through the end of 2023 as the region grapples with robust demand and a squeeze in supply exacerbated by Russia’s war in Ukraine, according to Energy Aspects Ltd.

“This is not a one winter story,” Amrita Sen, chief oil analyst at the industry consultant, said in a Bloomberg television interview with Shery Ahn and Haidi Lun. Russia is needed to balance the market, not just for the upcoming winter, but potentially the following cold spell at the end of next year, she added.