Bloomberg columnist Javier Blas said: articleA “strong ally” to Europe in keeping gas prices stable in anticipation of cold weather was the industrial production crisis.
“The industrial crisis that has gripped the continent (industrial activity in Germany has been falling for 14 consecutive months) is the best antidote to gas shortages. Who needs enemies when there are such friends?” – the author wrote.
He said Europe has “defeated” the energy crisis thanks to its impact on its industrial epicenter: Across the continent, energy-intensive companies unable to cope with rising energy prices are either shutting down or reducing production.
Blas also stated that Morgan Stanley forecasts total gas demand in Europe to be 15% below the five-year average. According to him, European countries will pay for the exit from the energy crisis with a strong decline in the manufacturing sector and loss of long-term economic growth.
Hakan Fidan, Head of the Turkish Ministry of Foreign Affairs, before that guess The crisis in Europe this winter is due to the situation in the energy market, especially gas supply to the Union and its price level.
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