The European Union's gas reserves have reached the lowest level in 15 years. According to the publication BiGo Finance, this situation is due to a miscalculation by the European bloc.
The European Union had been postponing natural gas purchases in anticipation that the Middle East conflict would have a quick resolution. The conflict began in February between the United States, Israel and Iran.
The scenario outlined by the Europeans predicted that, with a quick resolution of the conflict, natural gas from Qatar would once again pass through the Strait of Hormuz at a more affordable price. However, this expectation did not materialize.
As a result, the European Union now finds itself with significantly reduced gas reserves, at a time when supply remains compromised by the geopolitical situation in the region.
