The challenge of gas supply in Europe after the Iran-US war; "There will be no shortage this winter".
Simultaneously with the publication of the reports on the decrease in the volume of gas storage tanks in European countries, the CEO of the French company Total Energies says that Europe will not face a shortage of gas in the winter, but it will have to pay more to supply enough gas.
On Monday, November 2, at a press conference on Total Energy's energy demand forecast, Poiana said: "Europe's mistake this year, especially in the gas sector, is that we unfortunately eased storage requirements a year ahead of schedule. "This decision made us start the winter with less stock, and as a result the pressure on the market increased." According to Reuters, Europe is competing with Asia for cargoes of liquefied natural gas (LNG) to refill its empty tanks before winter, while uncertainty about the fate of the US war and capture with Iran and its effect on the exports of Qatar, one of the world's largest suppliers of LNG, continues.
This situation caused an increase in prices during the summer season, when the traders usually inject gas into the reservoirs to meet the winter demand.
🔸 The Agency for the Cooperation of Energy Regulatory Bodies of the European Union announced in April that due to the limitation of global supplies, it will be difficult to fill the reserves up to the level of 90%, and instead countries could pursue the goal of 80%; The flexibility that EU regulations allow in difficult market conditions.
According to the data of the European Gas Infrastructure Association, the gas storage facilities in Germany, which are the largest gas storage facilities in Europe, will start the winter with the lowest level of reserves on record. The filling level of these reservoirs was 61.03% on Sunday, November 10; This figure is much lower than the average in the European Union which stands at 74.62%.
Read the full version of this report on Radio Perda's website.