Equinor CEO: Europe May Miss Winter Gas Storage Goal

AI Summary

Equinor's CEO warns that Europe may fail to meet its goal of 80% gas storage ahead of winter due to intense global competition for LNG supplies. This setback poses risks for European energy security amid rising demand and geopolitical tensions.

Europe's effort to rebuild natural gas inventories before winter suffered another setback on Wednesday after Equinor CEO Anders Opedal warned the region may struggle to reach its 80% storage target, highlighting intensifying competition for global LNG supplies. Speaking after Equinor's second-quarter earnings release, Opedal said Europe may not succeed in filling its gas storage facilities to 80% before winter. "We do not think Europe will necessarily reach 80% storage before winter," Opedal said. European gas storage sites are currently around…