Europe Wary as Gas Stocks Languish at Lows While Winter Looms
- European natural gas stocks are unusually low at 58%, the lowest since 2021, raising concerns about gas supply and prices ahead of winter.
- Iran's closure of the Strait of Hormuz following US and Israeli strikes has curtailed European imports from Gulf suppliers like Qatar, significantly driving up prices.
- Europe has increased import capacity and plans to ban Russian gas imports by 2027, but supply risks remain due to infrastructure issues, supply disruptions, and competition from Asia and the US for LNG supplies.
- Experts and EU officials express confidence in securing storage fill levels up to 80% by winter, but caution that if conditions worsen, high prices and conservation measures may be necessary.
23 Articles
23 Articles
The current rate of filling of European reserves is less than 60%, compared to almost 75% in the last two years, mainly due to high summer prices linked to the blockade of the Strait of Ormuz.
DEXYPTAGE - Gas reserves are only filled at 59.4% today, compared to 72% last year. A situation that makes the Old Continent more vulnerable to the winter approach.
Autumn will start in a few weeks – and the German gas supply is not safe. What does the Minister of Economic Affairs do?
Germany's gas storage systems are unusually empty for this season. However, there is no threat of a real lack of gas. Why gas prices could rise significantly again in the coming winter. By Angela Göpfert.
The European Union is just as slow in filling its gas storage facilities as it has been for years – and wants to stop the supply of Russian liquefied gas in the middle of the upcoming winter.
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