• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 11 days Does Toyota Know Something That We Don’t?
  • 5 days America should go after China but it should be done in a wise way.
  • 18 hours "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 10 days World could get rid of Putin and Russia but nobody is bold enough
  • 12 days China is using Chinese Names of Cities on their Border with Russia.
  • 7 hours How Far Have We Really Gotten With Alternative Energy
  • 18 hours The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 2 days Even Shell Agrees with Climate Change!
  • 3 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 13 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population

The Energy Crisis Isn't Over, Investment Firm Guggenheim Says

Energy markets appear to be in a precarious balance, but the energy crisis is not over, Michael LaMotte, senior managing director at investment firm Guggenheim Partners, said at the CERAWeek energy conference in Houston this week.

"We may have gotten through this winter surprisingly well, but I don't think we're out of the woods yet," LaMotte said, as carried by Reuters.

"And things actually could get worse before they get better," the investment banker added.

Uncertainties about supplies related to the Russian invasion of Ukraine and tight oil production spare capacity globally could disrupt the oil and gas markets, executives and bankers said during panel discussions at one of the biggest annual events in the energy industry.  

Concerns in Europe have eased amid high LNG imports, lower consumption, and natural gas inventories well above the average for this time of the year.  

However, the race to ensure supply for next winter hasn't even started in earnest yet. Prices are set to hold higher than before the Russian invasion of Ukraine through the summer as Europe will face stiffer competition from Asia for LNG supply.

Last year, Asia—including China—saw lukewarm demand amid high spot prices and a slowdown in the Chinese economy. With China's reopening, however, demand for gas and LNG is set to rebound, increasing the competition between Asia and Europe for spot supply, analysts say.

Moreover, the weather in Europe has been milder than usual for prolonged periods so far this winter, allowing for less gas consumption for heating and power generation. It is far from certain that Europe, and the northern hemisphere as a whole, will see mild temperatures next winter, too.


Governments and regulators in the EU say that while a major gas shortage crisis has been averted for this winter, next winter could be more difficult.

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment
  • Mamdouh Salameh on March 08 2023 said:
    The global energy crisis is indeed not over yet and it even risks becoming a permanent one. The reasons are a robust global oil and gas demand, continued shrinking of global spare oil and gas production capacities, muddled and hasty Wester green policies, rising energy prices and underinvestment in global spare oil and gas capacities.

    The litmus test for gas prices will become clearer when the EU starts to fill its gas storage for the next winter amid a Chinese economic rebound with its demand for gas and LNG expected to rebound too.

    Dr Mamdouh G Salameh
    International Oil Economist
    Global Energy Expert

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News