Abnormally warm winter in Europe to reduce gas demand

Europeans have a greater probability of experiencing temperatures significantly higher than normal this winter, potentially offering relief to tight heating-fuel markets, according to the European Union’s Copernicus Climate Change Service, Report informs referring to Bloomberg.

Scientists at Copernicus reported Sunday in their most-closely-watched seasonal forecast that coastal regions along the Baltic, Mediterranean and North Sea are almost certain to see temperatures exceeding historical averages. The degree of certainty of warmer weather rose over the last month.

Abnormally high temperatures could slacken demand for natural gas, which European countries have been rushing to put into storage. Russia’s war on Ukraine propelled prices for the fuel to record heights, contributing to a cost-of-living crisis across the region.

There is a 50% to 60% probability that temperatures will be significantly above historic norms across much of the UK, central and southern Europe. Warmer temperatures would help to prevent scarce natural gas reserves from being depleted.