Germanys Deutsche Bank has issued a note on the current energy supply situation that says that if Russia makes deeper cuts in the supply of natural gas to western Europe as a result of sanctions over the war in Ukraine, German households might have to turn to an alternative fuel to heat their homes, wood.
“There are lots of elements of uncertainty,” the note said. According to long-range weather forecasts, Europe is expecting a harder winter than it normally experiences. Russia has already cut shipments to countries like Bulgaria and Poland for their refusal to use rubles for payment. Also, Gazprom, Russia’s state-owned energy company has sent mixed messages over whether or not the Nord Stream 1 pipeline, which has been shut down for maintenance, will reopen.
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