“EU may avoid gas disaster this winter, next could be worse”

The executive of energy trader Oil Trafigura has raised concerns about the escalation of the crisis in 2023

European countries might well find their way out of the energy crisis this winter, but the next year is likely to be more difficult, an executive of an energy trader has suggested.

During the Energy Intelligence Forum in London, joining a panel discussion titled “How geopolitics are replumbing the global energy system”, Ben Luckock, Co-Head of oil trading Trafigura, said: “Europe was heading towards an unavoidable situation this winter.

“There is a lot of evidence that people are doing the right thing and reducing their energy consumption.

“We may well avoid a disaster this winter, we are more concerned about the following winter.”

Mr Luckock explained that he was more concerned about next year’s outlook because of the lack of incremental liquefied natural gas regas capacity in Europe.

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