Europe’s gas storage levels are strong, but risks remain, the Executive Director of the International Energy Agency (IEA) has warned.

Fatih Birol told reporters: “Europe is going strong and we see the gas storage levels are at a very decent level – there are three risks for Europe, but still not out of the woods.

“One challenge is if Chinese demand is much stronger in the second half of the year. Second, if we see an extreme winter, a very cold winter and third, Europe still gets some Russian gas. If it is cut for political reasons, we may still see some challenges for the next winter in Europe.

“But having said that when I look at the 24th of February last year when there was the invasion of Ukraine by Russia I could easily say that Russia lead the energy cards but it fails.”

During the G7 Summit held in Hiroshima, Japan, last weekend, Fatih Birol, the Executive Director of the IEA, delivered a powerful address to world leaders.

He highlighted the remarkable advancements being made globally in clean energy deployment, emphasiSing the urgent need for decisive action to ensure a rapid and secure transition to a net zero emissions future.