European Union gas storage levels stood at 62% of capacity as of Thursday, down from 74% at the same point last year, according to data from Gas Infrastructure Europe. The decline reflects elevated natural gas prices, which have weighed on storage injections ahead of the winter heating season.
European Commission spokesperson Eva Hrncirova said there is no immediate concern about supply shortages in the bloc. The Commission’s assessment follows sustained upward pressure on European gas prices, driven in part by geopolitical developments involving the U.S. and Iran.
EU countries have faced challenges replenishing storage inventories this year, with high wholesale prices discouraging industrial and utility buyers from purchasing fuel for long-term storage. Despite the lagging fill rates, the Commission maintains that current levels are sufficient to meet demand through the winter months under normal conditions.
