The Value of an Energy Asset Is Deteriorating Underneath EuropeBy
Operators may shutter or divest storage facilities amid slump
Spread between winter and summer gas narrowed by 70 percent
For decades, one of the most profitable parts of Europe’s energy industry was giant, underground reservoirs used to store billions of dollars worth of natural gas. Traders stockpile fuel there during the summer to sell in winter, when the continent’s consumers need to heat their homes.
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