Europe needs to drastically slash natural gas consumption in the next few months to prepare for what is likely to be “a long, hard winter,” the head of the International Energy Agency said. While the European Union has made some progress diversifying away from key supplier Russia, any shipments from the country remain highly uncertain, with a complete cut-off not ruled out, IEA Executive Director Fatih Birol said in a commentary outlining steps Europe must take to avoid a major gas crunch this winter. Birol’s warning comes as a severe heat wave exacerbates Europe’s worst energy crisis in decades, putting undue demand on gas-fired generation to keep homes and businesses cool. Electricity supplies are short as warm air reduces wind power, rising water temperatures hamper nuclear plant output and falling river levels interrupt coal supplies to power stations. Relying on alternative gas suppliers won’t be enough. Even if Norway […]