EU Gas System Ready For Winter Despite Lower Storage Levels

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 12. The EU gas system is ready for winter despite lower gas storage levels, the European Commission said.

According to a statement published on the European Commission's website, the Gas Coordination Group recently held another meeting to assess the current situation in the European gas market.

Participants also heard a presentation by the European Network of Transmission System Operators for Gas (ENTSOG) on the key findings of its forecast on preparedness for the 2026–2027 winter.

“Although gas storage levels are below historical averages, the report confirms that the EU gas system has sufficient flexibility to meet demand this winter. EU infrastructure allows for increased imports of liquefied natural gas (LNG) to offset lower storage levels.

“ENTSOG also highlighted the importance of maintaining adequate gas storage levels throughout the season to handle cold spells in late winter and facilitate the refilling of storage facilities next summer.

“The current situation differs significantly from the winter of 2021–2022. The EU is now better prepared thanks to the diversification of gas supplies, increased LNG import capacity and reduced gas demand,” the European Commission said.

The statement emphasized that LNG import volumes into the EU will depend primarily on winter temperatures and their impact on gas demand.

“Ultimately, market participants decide whether to import LNG or withdraw gas from storage facilities,” the statement said.

The European Commission also presented information on the implementation of the REPowerEU regulation concerning gas, focusing on preparations for the expiration of long-term contracts for Russian LNG imports starting early next year.

The European Commission will continue to closely monitor gas storage levels, supplies and prices throughout the winter in cooperation with EU countries and market participants, the statement added.

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