Warehouses across the European Union are more than 82% full. Experts note that this is a relatively good situation, UNN reports with reference to Bloomberg and Focus.
Details
European gas storage facilities, after an active summer campaign to build up reserves, are now more than 82% full. Thus, Europe is starting the heating season with "calm markets."
We are in a relatively good position. The big question, of course, is whether the coming winter will be the last one where the market remains concerned about gas supply.
Some aspects regarding the immediate expectations in the gas sector for the old continent:
- gas reserves in Europe usually cover about a third of winter demand;
- in 2026, global gas reserves will begin to exceed demand - many analysts believe. This will facilitate the accumulation of reserves in the future and bring "long-awaited relief to European consumers";
- as of now, it should be noted that compared to the crisis peaks of 2022, prices have sharply decreased.
Strategy towards 90% filling of reserves
Europe this summer attracted additional liquefied natural gas cargoes as demand from China remained low, while weak industrial consumption freed up even more supply.
Reserves could rise to 89% by the end of October, according to Tom Marzec-Manser, director of gas and LNG at Wood Mackenzie. He noted that this is more than enough to support European winter supplies.
Addition
There are specific examples in a number of countries, among which we highlight Germany:
German gas storage facilities are currently 76.5 percent full, which is about seven percentage points less than the average for the years before Russia's full-scale war in Ukraine.
But the filling level has increased over the past two months, so the current situation is not alarming.
The operating association Initiative Energien Speichern (INES) assumes that a maximum filling level of 81 percent is realistic by November 1, Focus writes.
However, there are risks: if the winter becomes unusually cold, supplies may become scarce. Then private households and businesses will heat more, and therefore consume more natural gas.
Recall
From 2022 to 2025, France, Belgium, Spain, and the Netherlands purchased 34.3 billion euros worth of liquefied natural gas from Russia, while Ukraine received 21.2 billion euros in aid from them.