Europe has managed to fill its gas storage sites to nearly 90%. Europe is paying high prices for LNG, and these prices are determined by traders in a tight market. For the first time ever, the European Union imported in June more LNG from the United States than gas via pipeline from Russia. Europe has managed to fill its gas storage sites to nearly 90% as winter approaches, but stocking up on gas has come at a price. Gas and energy prices are now so high that energy-intensive industries are shutting down production lines or whole factories, while households are constantly being asked to conserve gas and electricity to avoid rationing and/or blackouts this winter. The EU, most of which is now deprived of any gas supply from Russia, is doing relatively well with stocking up on alternative supply. The prices, however, are high, and so is the price […]