Underground storage facilities, which provide a buffer for supply stability, are currently 70% full, which is significantly lower than last year's 86%. Although no shortage is currently expected, such a rapid depletion will make it difficult to build up stocks before the next heating season and could affect short-term prices, the publication said.
According to Gas Infrastructure Europe data, the storage levels have dropped by 25 percentage points from their peak, the largest decline since 2018.
The cold wave that has hit most of Northwest Europe could lead to a further increase in gas consumption for heating. In addition, Europe is becoming increasingly vulnerable to market fluctuations due to its dependence on global liquefied natural gas (LNG), which has replaced Russian pipeline flows.
European gas storage facilities are depleting at the fastest rate since 2018
07.01.2025 07:26
Europe faces the fastest depletion of gas reserves since 2018 Gas reserves in Europe are declining at the fastest pace in seven years due to growing heating needs amid cold weather. Temperatures in the region are expected to drop again this week, Bloomberg reports.
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