Europe’s energy woes ease, but could face competition for gas supplies as China reopens

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Critics warned that the superpower sprint for liquified natural gas could squeeze out poorer Asian buyers and spark deepening energy crises in emerging economies.

BRUGES: Europe’s energy woes appear to be easing, with energy inflation falling across the continent and gas prices pulling back from the record peaks of August last year.

European Union countries are already busy building more LNG terminals, so they can keep ramping up imports in future. “A year ago, Europe had a massive dependency on Russian fossil fuels built up over decades,” said European Commission president Ursula von der Leyen. A river pilot begins to pull the LPG tanker Navigator Jorf with his tugboat to lead it through the Port of Antwerp, Belgium, Wednesday, Aug. 10, 2022. Port of Antwerp-Bruges is the second largest port in Europe. Yet, climate campaigners want the world to kick its gas habit for good.

 

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