Europe scrambles to up gas supplies ahead of winter

European energy ministers meet today, fearing coming shortfalls of natural gas and diesel ahead of winter.

Europe typically refills its gas stockpiles over the summer, but curbs on tanker traffic through the Strait of Hormuz have upended that strategy, leaving its reserves far lower than usual.

Governments are trying to replenish them by upping imports, but Europe is competing for supplies with Asian countries also badly hit by the Middle East conflict. European officials also worry that a potential US diesel export ban would hammer the continent’s economies.

One sign of (grim) hope: Experts say the El Niño weather pattern, which is causing devastation in much of the globe, could boost Europe’s renewables output and reduce gas demand.