Long-term contracts: a solution to soaring gas prices in Europe?
The current surge in gas prices has its causes in the ongoing war in Ukraine: tensions over supply have resulted in an unprecedented surge in market prices, which is or will ultimately be passed on to consumers in Europe. While this unprecedented crisis has major geopolitical implications, it should also raise questions about the organization of the market put in place in Europe over the past twenty years and in particular its consequences on long-term contracts: is this organization optimal for in the face of crises?