European Union gas storage hits historically low levels

European Union gas storage levels reached 72% as of October 1, a significant decrease from the 83% recorded a year earlier. According to a report by the European Network of Transmission System Operators for Gas (Entsog), these levels are considered historically low following a difficult injection campaign. Within the EU, storage levels vary significantly; France reported 85% capacity, while Germany stood at 59%.

Despite the goal of phasing out Russian energy, EU imports of Russian liquefied natural gas (LNG) rose by 60% in September compared to August. This increase follows an exceptionally low month in August, which was attributed to maintenance at the Yamal LNG facility and increased deliveries to China. The EU remains one of the top buyers of Russian fossil fuels, trailing only China and India in September.

While the EU aims to decouple from Russian gas, with bans on certain long-term pipeline contracts set for late 2027, the reliance on LNG remains critical for winter security. Entsog notes that while the infrastructure is flexible enough to meet demand, landlocked countries in Central and Eastern Europe may face challenges in securing sufficient LNG supplies.