Swiss Gas Sector Prepares for Challenging Winter Ahead
Switzerland's gas sector is preparing for a potentially difficult winter due to rising prices and low storage levels in Europe. Gas prices have tripled since January, mainly due to the war in the Middle East.
The Association of the Swiss Gas Industry's director, Daniela Decurtins, says that historically low storage levels in Germany and the Netherlands are a major concern. The Strait of Hormuz is currently closed, reducing liquefied natural gas (LNG) availability on the global market.
Experts predict that prices could double in a worst-case scenario, although this is unlikely to lead to shortages for households and businesses. Switzerland has no domestic gas storage facilities and traditionally relies on imports from Germany.
The industry is seeking alternatives, including diverting gas from the transit pipeline between France and Italy in case of an emergency.