Europe urged to save natural gas to avoid shortage next year

By DAVID McHUGH
AP Business Writer

FRANKFURT, Germany (AP) — The International Energy Agency says Europe could face a severe natural gas shortage next year and needs to act now to conserve. In a report Thursday, the Paris-based organization warned against complacency in an energy crisis triggered by Russia’s war in Ukraine after countries were able to build up storage of the fuel to heat homes and generate electricity this winter. The IEA says Europe benefited from some Russian gas over the summer and sharply reduced competition from China for scarce shiploads of liquefied natural gas, and those factors could be one-offs. Along with mild weather, that’s pushed down prices. The group urged governments to speed up energy efficiency improvements, use of renewables and other steps to reduce demand.