EU Gas Storage At Lowest Level Since 2013 Ahead Of Winter IEA

(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 3. European Union gas storage facilities are entering the 2026–2027 heating season with inventories at their lowest level since 2013, limiting the bloc's ability to withstand supply disruptions and potentially increasing price volatility over the winter.

The report is based on the findings of the International Energy Agency's (IEA) Global Gas Security Review 2026.

The agency estimates that low gas storage levels in Europe could increase the region's reliance on global liquefied natural gas (LNG) supplies to meet winter demand.

"Combined with limited gas storage capacity in several countries in Asia and South America, this situation could intensify competition for a limited number of flexible LNG cargoes in the coming months and put upward pressure on spot prices, particularly during periods of peak demand.

According to the IEA's modelling, assuming colder-than-average weather and continued disruptions to LNG supplies through the Strait of Hormuz, EU gas storage levels could fall below 10% of working capacity by the end of March 2027.

This would leave the European market particularly vulnerable to further cold spells, technical failures and other supply disruptions," the report said.

The agency noted that gas withdrawal rates from storage facilities typically slow once filling levels fall below 30% of working capacity.

Furthermore, low storage inventories at the end of the heating season would significantly increase the amount of gas that needs to be injected into storage facilities during the summer of 2027. This could prolong tightness in the gas market into next year.

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