With the critical Russian Nord Stream 1 pipeline being shut down again for at least three days from 31 August, fears of gas shortages have once again spiked in Europe. Encouragingly, most countries are managing to bring up their gas storage fillings close to targets ahead of winter. However, Europe is now having to deal with electricity shortages as well. On 9 September, EU energy ministers will gather for an emergency meeting to work out ways to decouple gas and electricity prices to ease at least one part of the cost-of-living crisis.
Ehsan Khoman, Head of Emerging Markets Research (EMEA), contextualises the current state of affairs, honing in on what options are available to EU policymakers when they meet on 9 September and what they could mean for global markets.
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