EU Shrugs Off Gas Supply Fears Despite Low Storage Levels
The European Commission said the EU's natural gas supply remains stable after a meeting of the Gas Coordination Group, despite storage levels that are lower than historical averages. The commission said it will continue close monitoring in cooperation with member states and stakeholders.
Why It Matters
Lower-than-usual storage raises concerns about Europe's ability to cope with a colder-than-expected winter and comes amid wider disruptions to LNG flows linked to transit issues through the Strait of Hormuz. Stability statements from the Commission and member states affect market confidence and policy planning for energy security.
Key Facts
- Advisory body: Gas Coordination Group advises the European Commission on security-of-supply coordination.
- Meeting outcome: The Commission and EU countries reconfirmed that EU gas supply remains stable.
- EU storage level (Sep 24): Approximately 70% full, per Gas Infrastructure Europe data.
- Germany storage level: About 57% full for Germany's storage facilities.
- Price impact: Asian and European gas prices spiked in March to their highest since the 2022-2023 energy crisis.
The European Commission said the EU's natural gas supply is stable following a meeting of the Gas Coordination Group, which assesses coordination of security-of-supply measures for EU or regional emergencies. Officials acknowledged storage levels are lower than historical norms but said the Commission and member states will keep close oversight of the market in cooperation with stakeholders. Officials pointed to disruptions in liquefied natural gas (LNG) flows as a key factor behind tighter supply conditions in recent months. LNG shipments have had difficulty transiting the Strait of Hormuz, where ship-to-ship transfers are more complicated for gas than for crude oil, helping push Asian and European gas prices in March to their highest levels since the 2022-2023 energy crisis. The effects of constrained LNG flows have left European storage inventories below typical seasonal averages. Gas Infrastructure Europe data cited by the Commission showed EU storage at about 70% full as of September 24, notably under the five-year average of more than 80% full. Some large economies are even further below average: Germany's storage — among the world's largest — was reported at roughly 57% full. The Commission and member states did not announce new emergency measures at the meeting but emphasized continued monitoring of supplies and market developments. The statement frames the current situation as stable while flagging the potential risk scenario if the coming winter proves significantly colder than recent years, when lower inventories could pressure supply security.
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