Analysis of the European energy crisis and its implications for the development of strategic energy storage in China

Energy is the basic condition for national industry. The European Union (EU) energy crisis has caused serious problems for the world economy, and it has great implications for China. In this paper, the causes, harm and solutions of the EU energy crisis are discussed; the main energy causes of the EU, the relationship between energy storage and energy crisis, and the relationship between natural gas price and strategic storage are analyzed by mathematical models, the strategic energy storage situations of China and the EU are analyzed; the necessities and advantages of China's strategic energy storage are analyzed; the measures of improving strategic energy storage are proposed. The results show that the essence of the EU crisis is the imbalance between the supply and demand of energy, the war and fragile energy supply aggravate the imbalance. The energy storage capacity has an obvious inhibiting effect on the occurrence of the energy crisis, which accounts for 70 %. Strategic energy storage has a flattening effect on the natural gas price when the gas supply is disrupted. China's strategic energy storage is dominated by natural gas and oil. China and EU have radical measures for energy transformation. Long-term stable and diversified energy supply, salt cavern energy storage system, and reasonable transition of energy can help China deal with the energy crisis. The research has certain reference values for the world's strategic energy storage.