As Europe’s heating season kicks off, this spat between Gazprom and OMV highlights just how fragile the energy landscape remains.
If nothing else, it’s a timely reminder for Europe to keep working on those contingency plans—and maybe stockpile a few extra blankets. Winter is here, and with it, more geopolitical games.
The news comes as Gazprom raised in October its 2024 investment plans by 4% to $16.9 billion, and as Europe’s benchmark natural gas prices surged on Thursday to the highest levels since last November.