Julian Lee, Columnist

Europe Desperately Needs a New Gas Storage Strategy

It’s all very well that Europe has lots of gas storage capacity, but it’s no use if it isn’t filled ahead of winter.

January 16, 2022 at 6:00 AM UTC

Julian Lee is an oil strategist for Bloomberg. Previously, he was a senior analyst at the Centre for Global Energy Studies.

Europe’s present to Putin.
Photographer: Liesa Johannssen-Koppitz/Bloomberg

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Europe subcontracted its energy security to President Vladimir Putin — now it’s paying the price.

If European energy regulators learn any lesson from this winter’s soaring gas and electricity prices, it ought to be that they need a new set of rules governing gas storage ahead of the cold winter months.