Europe Heads Into Winter With Its Weakest Gas Cushion In 15 Years

AI Summary

Europe is expected to enter the winter heating season with its weakest natural gas storage levels in 15 years, with current storage at about 54% capacity. This scenario raises concerns about energy security and the continent's ability to meet demand during colder months.

Europe is unlikely to refill its natural gas storage facilities to even 80% before winter, Equinor CEO Anders Opedal said on Wednesday, Reuters reported, raising the prospect that the continent will enter the heating season with its smallest supply buffer in years. European gas storage sites are currently about 54% full, the second-lowest level for this point in the year in 15 years and well below the five-year average, according to Equinor and Gas Infrastructure Europe data. Earlier this month, the European Union’s energy regulator ACER…