started · updated
European gas storage levels hit lowest since 2013 amid price surge warnings
Europe faces significant energy security risks as natural gas storage levels remain critically low. According to Gas Infrastructure Europe, current storage levels are at their lowest for this period since 2013, with EU reserves at approximately 63% capacity. This is significantly below the five-year average.
Analysts from Goldman Sachs and Morningstar warn that gas prices could surge above 100 euros per MWh, potentially reaching 120 euros, due to intense competition with Asia for Liquefied Natural Gas (LNG) shipments. This volatility is compounded by geopolitical instability and the need for Europe to diversify away from Russian supplies.
In the United Kingdom, Centrica CEO Chris O’Shea has warned that national gas stockpiles are dangerously low, sitting at roughly 30% capacity compared to 46% last year. He noted that the UK has become overly reliant on imports and lacks sufficient domestic storage infrastructure. Meanwhile, in the Netherlands, state-owned Gasunie has cautioned that the country may fail to meet its national gas storage targets this year due to unfavorable market conditions.
To mitigate these risks, German politician Sepp Müller has proposed increasing the use of coal power plants as a reserve strategy to preserve gas for winter storage. The European Commission continues to mandate that member states reach 90% storage capacity between October and December to ensure stability.
Entities
Argus Media · Austria · Centrica · Dutch TTF · Europe · European Commission · European Union · Gas Infrastructure Europe · Gasunie · Germany · Goldman Sachs · Morningstar
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 13 SOURCES] EU gas storage is approximately 18 percentage points below the five-year average. www.energygame.gr · nezavisen.mk · srpskacafe.com · face.ba · www.mononews.gr · +7 more
- [● 7 SOURCES] Goldman Sachs analysts predict TTF gas prices could reach 100 euro/MWh by December. www.kiskegyed.hu · www.mononews.gr · www.energygame.gr · www.biznismagazin.rs · gradskeinfo.rs · +2 more
- [○ 1 SOURCE] Wholesale price increases typically impact consumer prices within six months. www.kiskegyed.hu
- [● 9 SOURCES] The Dutch TTF benchmark gas price exceeded 68 euro/MWh. www.energygame.gr · expres.mk · www.kiskegyed.hu · www.mononews.gr · www.wochenblatt-dlv.de · +4 more
- [● 3 SOURCES] Current gas storage levels are at their lowest since 2021. www.kiskegyed.hu · www.zougla.gr
- [DISPUTED] EU gas storage is at approximately 63% capacity. www.energygame.gr · www.kiskegyed.hu · expres.mk · www.mononews.gr · nezavisen.mk · +9 more
- [● 6 SOURCES] European gas storage is at its lowest level for this time of year since 2013. srpskacafe.com · face.ba · nezavisen.mk · alsat.mk · www.kiskegyed.hu
- [● 5 SOURCES] The European Commission requires EU member states to have gas storage 90% full between October 1 and December 1. srpskacafe.com · face.ba · nezavisen.mk · alsat.mk
- [● 5 SOURCES] Net gas injection into EU storage is at its lowest level in six years. srpskacafe.com · face.ba · nezavisen.mk · alsat.mk
- [● 3 SOURCES] German CDU politician Sepp Müller proposes increasing the use of coal power plants to mitigate high gas prices and save gas for winter storage. www.it-boltwise.de · www.kurierverlag.de
- [● 5 SOURCES] Germany risks failing to meet its legal gas storage target of 70% by November 1 if current injection rates persist. de.euronews.com · dailysceptic.org · www.euronews.com · hu.euronews.com · pt.euronews.com
- [● 5 SOURCES] The Dutch state-owned company Gasunie warned that the Netherlands could miss its gas storage targets this year. de.euronews.com · www.euronews.com · hu.euronews.com · pt.euronews.com · financije.hr