Europe may face a winter gas shortage if an agreement is not reached with Iran: IEA The IEA warns that a prolonged closure of the Strait of Hormuz and a cold winter could leave European gas reserves at only 10% capacity, slow down the pumping process and make it more expensive to replenish stocks next summer.

Europe may face a winter gas shortage if an agreement is not reached with Iran: IEA The IEA warns that a prolonged closure of the Strait of Hormuz and a cold winter could leave European gas reserves at only 10% capacity, slow down the pumping process and make it more expensive to replenish stocks next summer.