SOFIA, July 29 (Reuters) – While Europe’s vulnerability to energy supply disruptions has declined significantly since the 2022 Russia crisis, the region faces another insidious threat: high energy prices that are hollowing out the continent’s industrial base.
Europe has weathered the global energy squeeze caused by the Iran war that began on February 28 relatively well thus far, largely thanks to massive investments in liquefied natural gas terminals, mandatory gas storage and increased reliance on U.S. LNG. European gas prices have risen, but the region has yet to enter true crisis mode, as it did in 2022 following Russia’s full-scale invasion of Ukraine.
