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2026-07-27 18:56 UTC → 2026-07-27 19:01 UTC ·
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Europe LNG supply shortage deepens, storage hits low
On 5 July 2026, U.S. officials reported warned on 5 July 2026 that LNG shipments to the European Union EU had fallen to their lowest level in two years, jeopardising threatening a $750 billion trade pledge between the two partners. pledge. By 25 July 2026, late July, European gas storage was about 55 sat at roughly 54‑55 % full—the lowest of capacity—the weakest level for this time of year season since 2021—and projected July LNG imports of about 6.3 million tonnes were the smallest volume since September 2024. The deficit was driven by strong shortfall stems from robust Asian demand, damage to Qatar’s Ras Laffan LNG facility from after Iranian missile strikes, and a continued blockage of the Strait of Hormuz, which together constrained tighten global LNG supplies. As Analysts now doubt the EU continues phasing out Russian pipeline gas, reliance on LNG for 30‑40 will meet its goal of filling reservoirs to 80 % before winter, a view echoed by Equinor chief Anders Opedal, who cited competition from higher‑paying Asian buyers. The United Kingdom, with storage equivalent to only 5 % of its annual gas needs heightens vulnerability to elevated prices demand, also faces heightened reliance on imports. Forecasts suggest European storage may peak at about 75 % of capacity by early November, well below the historic 90 % winter average, raising the risk of price spikes throughout the winter season and into 2027. 2027 as the bloc moves toward a full ban on Russian gas.