Germany Faces €40 Billion Risk If Winter Turns Cold ...Middle East

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Germany Faces €40 Billion Risk If Winter Turns Cold
source : OILPRICE ( Middle East ) () 85
Germany could suffer economic losses of around 40 billion euros if this winter turns out colder than average, gas utility Uniper has warned in a report that said such a development could plunge Germany into a recession. Every year, as October begins and with it, quite often, heating season, Europe begins a race to fill its gas storage facilities in time to secure a comfortable level of stocks ahead of peak demand for electricity and heat. Norway stands ready to step up gas exports to the European Union, U.S. LNG producers stand ready to boost cargoes…

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