EU entering winter with lowest gas reserves on record: IEA chief

BERLIN, Oct 23: Europe is entering winter with historically low gas reserves and cannot withstand further supply shocks, FatihBirol, head of the International Energy Agency, has warned, as the US-Israel war on Iran disrupts global supply chains.

Speaking to Al Jazeera on the sidelines of an international conference in Berlin on Wednesday, Birol said all regions are being hit by energy disruptions in the Strait of Hormuz but that Europe is particularly vulnerable and will likely face rising costs of liquefied natural gas (LNG) in the coming months �" even if peace returns to the Gulf today.

“The best day for a ceasefire would have been yesterday,” the energy economist, whose agency advises wealthy member nations and coordinates emergency responses, said.�" AL JAZEERA