Europe braces for a potential gas crisis as historic heatwave boosts demand

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Europe braces for a potential gas crisis as historic heatwave boosts demand
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Europe is bracing for the potential of a full-blown gas crisis later this week just as an historic heatwave has hiked demand for energy to help cool the continent's homes and businesses.

Gazprom blamed the move on the West's decision to withhold vital turbines because of sanctions.

"This huge increase in the demand for natural gas for electricity production has been mainly due to the high temperatures recorded as a result of the heatwave," Enagas said in a press statement last Thursday. Meanwhile, European countries are racing to fill up their gas storage facilities to avoid a potentially catastrophic energy shortage over the winter.

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