[thow-58d4e8b]

> insufficient gas buffers during the uptick of the economy after Corona

this is true

> Russia closing part of its huge gas supply to Europe

this isn't, afaik. Russia doesn't sell on spot market, they prefer long term futures contracts, on which they reliably deliver. They delivered on their 2021 commitments a bit earlier, hence they closed off the valves

Basically, the gas supplies were low during summer, but the spot prices were significantly above long term average, so energy companies delayed their purchases, hoping the price will come back down soon. It didn't, reserves dried up, and everybody was forced to buy at the same time