Europe Facing Multi-Year Energy Crisis

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Europe is facing another three to five years of gas shortages exacerbating the current energy crisis according to Ed Morse, Citigroup Inc’s global head of commodities research. Europe’s current crisis has been largely caused by Russia reducing natural gas exports in retaliation of sanctions imposed after the invasion of Ukraine.  European leaders are set to meet soon to address how to stabilize prices and find alternate natural gas sources in the face multiple uncertainties, including the ongoing conflict in Ukraine.