Rising LNG imports reflect Europe's need to compensate for potential shortages and increase reliance on gas.
November normally marks the start of the heating season proper in most of Europe . This year has been no exceptionand gas demand is set to surge in the final months of the year to make up for lost solar and likely wind generation. Earlier this year, gas prices in Europe spiked following a production outage at a Norwegian platform and geopolitical jitters about the Middle East. Prices normalized soon enough but remain elevated, depressing consumption.
It is because of these limitations, of both solar and wind, that Europe will be burning more natural gas in the coming three to four monthsand more coal, too. Europe is not a big fan of coal. In fact, it is the opposite of a fan, seeking to retire as much coal generation capacity as possible and replace it with wind and solar.
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