Europe may struggle to tap LNNG to replace missing Russian supply. Source: Bloomberg Natural gas prices in Europe increased on Wednesday amid risks that the supply situation could deteriorate as countries race to fill storage sites. The continent may struggle to tap liquefied natural gas to replace missing Russian supply as demand in Asia increases, elevating competition for cargoes. The UK is also considering cutting off interconnector gas pipelines to European Union countries under an emergency plan, if the supply situation worsens, the Financial Times reported. “Among market participants, growing concerns on the weakening of storage injections in the past days seem to prevent prices from falling,” EnergyScan, Engie SA’s market analysis division, said in a note. Europe is rushing to tap alternative energy resources and reduce demand as it shuns top-supplier Russia amid increasing tensions related to the war in Ukraine. Russia cut gas flows by 60% via […]