In the winter of late 2022 and early 2023, Europe got lucky. It got very lucky. Gas storage sites were fuller than usual because of the massive LNG-buying effort the EU put into securing gas for the winter, and the winter itself turned out to be warmer than usual. Yet luck, while a big part of Europe's success in making it through winter relatively unscathed despite decimated Russian gas supply, was not all of it.
Europe made it because it had the money to pay such prices for LNG on the spot market, which made the fuel impossible to afford for…High Gas Prices Could Be The New Normal For Europe
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