Europe's energy crisis: The looming winter of discontent that awaits India

Europe's bid to reduce its dependence on Russian gas ahead of the cold season will put pressure on prices and impact India's growing gas economy

The dreary, cold months from December to February may prove to be the undoing of many a nation as they grapple with sky-high fuel prices — a result of the Ukraine conflict and the pandemic. Many — Europe, South Korea, Japan, and China — will still pull through on the strength of their wealth or because of strong storage infrastructure. But India will have its back to the wall.

Signs of liquefied natural gas (LNG) rates hitting new records this winter are already evident. Russia has stopped supplying gas to Germany via Nord Stream 1 citing maintenance issues. The pipe,