🇪🇺 The European Union risks a gas shortage in the winter due to low reserves

🇪🇺 The European Union risks a gas shortage in the winter due to low reserves

🖥 The European Union may have to reduce gas consumption for the winter by 7%, or 14 billion cubic meters compared to last winter, if the shortfall is not compensated by additional supplies. This is according to an analysis by the Institute for Energy Economics and Financial Analysis (IEEFA), cited by Politico.

🔎 As of October 3, EU gas storage facilities were 72.4% full. According to the institute's data, this is the lowest index for this period of the year since accounting began in 2011. This winter they can receive 7.3 billion cubic meters of gas less than last year.

👀 The high summer prices reduced the benefit from purchasing gas for storage. Stock replenished more slowly, and winter consumption increased.

💰 According to IEEFA, compensation for the lack of stock with additional imports will cost about 3 billion euros. It is 12% more expensive than buying the same volume last year. The war in the Middle East and supply disruptions add pressure to the market.

📌 The European Commission believes that the EU gas system is able to meet demand thanks to a greater supply of liquefied gas. The need for them will depend on the temperatures. From January 2027, the supply of Russian LNG under long-term contracts will also be stopped.

ℹ️ During the emptying of the storage vessel, the pressure drops, which is why gas can be pumped more slowly. This makes it difficult to meet demand during the late frost.

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