Hopes are rising that Europe will avoid a winter energy crisis that some feared would play to Russian President
advantage as Moscow prepares for a possible invasion of Ukraine.
A record influx of liquefied natural gas, combined with mild and windy weather, has slowed withdrawals from the region’s heavily depleted underground gas-storage caverns. A boost to flows of gas from Russia via Ukraine is helping, too.
Supplies are still slim, filling just 38% of Europe’s storage capacity, according to Gas Infrastructure Europe. But the shortfall compared with previous winters is narrowing and prices are retreating from record highs.
A dearth of gas in Europe has hampered the region’s ability to respond to the stationing of more than 100,000 troops on the border with Ukraine. Germany, in particular, has been hesitant to…
