EU says gas storage exceptionally low but no immediate supply risk
The Gas Coordination Group met this week as the bloc heads into winter with reserves below historical levels
Published
The EU's energy chief says gas storage across the bloc is exceptionally low and the situation is challenging, but there is no immediate risk to supply.
The comment follows a meeting of the Gas Coordination Group on 24 September. Afterward, the European Commission said EU gas supply remains stable despite storage levels running below historical norms, according to eunews.it. A further meeting with industry associations is already scheduled for 8 October, eunews.it reports.
It is not the first time the Commission has addressed the issue. After an earlier Gas Coordination Group meeting on 3 September, it said the EU is better prepared than during the 2021/2022 energy crisis, citing more diversified supply, greater LNG import capacity and lower gas demand, and said there was no reason to intervene, according to a statement from the Commission's energy department.
Ongoing disruption in the Strait of Hormuz continues to weigh on international energy markets, adding volatility to oil and gas prices and complicating LNG shipments from the Gulf, eunews.it reports.
Exceptionally low storage heading into winter adds a medium-term vulnerability at a moment when Russia is testing the bloc's resolve on sanctions and energy dependence. There is no crisis today, but the thin cushion in reserves means a supply disruption or an extended cold spell could force difficult choices on energy pricing and industrial capacity, a latent risk to economic stability and political cohesion across the bloc.