European gas stocks hit winter levels two months ahead of schedule - Bloomberg

Gas reserves in European storage facilities have reached 90%, allowing the EU to confidently enter the winter season. This result was achieved more than two months ahead of schedule. This was reported by Bloomberg, according to UNN.

Details

It is noted that although the level of storage occupancy is somewhat lower than in the same period last year due to slower summer supplies, it is still significantly higher than the average for the last five years.

At the same time, it is noted that Europe is still at risk of sudden supply disruptions. European countries are still discussing how they can replace Russian pipeline flows after the transit agreement between Moscow and Kyiv expires at the end of the year.

In addition, Norway, which is the largest gas supplier to Europe, has entered a period of large-scale maintenance, which is causing concern among traders. According to Rystad analyst Christoph Halser, any unforeseen delays or extensions to the maintenance period could cause nervousness in the market.

According to the expert, supplies from Norway play a special role, as Europe is gradually reducing its imports of liquefied natural gas, he added.

Recall

Russian LNG supplies to France more than doubled in the first half of this year. French companies imported almost 4.4 bcm of Russian LNG, making France the largest importer in the EU.

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