Looming Gas Crunch Poses ‘Historic Test’ for Europe, IEA Says

European nations must take urgent and coordinated action to avert a potentially disastrous natural-gas supply crunch this winter caused by reduced Russian supplies, the head of the International Energy Agency warned.

Europe faces a real possibility that Russia will choose to completely cut off its supply of gas, Fatih Birol, the IEA’s executive director, said Monday. Those supplies still remain crucial to the region’s economy—from households to heavy industry—despite efforts to find alternative suppliers.