February gas pains in Europe – Coping is not managing
February Gas Pains in Europe – Coping is not Managing / Laura Parmigiani, IFRI, Édito du 23 février 2012
The Italian response to the gas crisis
The recent cold spell that gripped much of Europe was a test for the European gas network. In many countries temperatures fell dramatically to -10°C during the first week of February, even dropping a bone chilling – 22°C in some places.
As the European Commission’s Director General for Energy Philippe Lowe said during a speech at our Annual Conference last Thursday (February 16) in Brussels, Europe’s gas network was able to respond to the sharp increase in demand despite a simultaneous drop in supply from Gazprom. Indeed, a 2009-type crisis was avoided, no gas shortage occurred, and the countries depending on Russian gas did not experience the same disruptions. Yet, can we consider the outcome a success?…