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The reserve is close to full capacity,liquefied natural gas (LNG) carriers are stuck in the port, and the price ofnatural gas keeps falling. Seeing these recent news, people may think thatafter several months of energy crisis, Europeans can finally relax, and evensigh: Is Europe out of the crisis? However, many analysts gave negativeanswers.

"Europe is not out of the woods yet,"said Nicolina Bromand, an analyst at Norwegian Lyestad Energy Company."With the continuous decline of Russian gas supply, the winter of 2023will be more difficult."

Elie Rubin of EBW Group, an American energyconsultancy, said that the price curve will not be stable in the negativerange. The futures price that plunged before was only a "short-termimbalance between supply and demand", and the long-term demand has notchanged, so it will not fundamentally affect the price of natural gas.

The Financial Times reported on November 3that the International Energy Agency (IEA) "sounded the alarm" forthe supply of natural gas in Europe next year, warning European leaders not tobe complacent because of the recent price drop, and urging them to take immediateaction to ensure the supply next winter.

Birol, Director of the International EnergyAgency, said on November 3rd that, considering the challenge of replenishingnatural gas stocks from next spring, European stocks may only reach 65% ofstorage capacity at this time next year. He pointed out that the InternationalEnergy Agency expects a supply gap of about 30 billion cubic meters, becauseunlike in 2022, Russia's exports are likely to have been close to zero sincethe beginning of the year.

Birol said: "Risks have appeared onthe horizon, and we believe that the natural gas market will remain tense andvolatile. This is a wake-up call for next winter, because we believe that weneed to take immediate action now to avoid a shortage next year. "

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