EU Gas Reserves Fall Below Historical Levels Amid Winter Concerns
During a midday press briefing, Itkonen explained that EU authorities are monitoring storage levels closely and increasing the frequency of coordination meetings with member states to evaluate gas supplies across the region.
“On gas storage, we are lower than the historical average,” Itkonen said, adding that the situation had also been addressed during the previous week’s European Council summit.
“Despite the fact that we are headed for a difficult winter, we do not have a security supply issue, but the crisis in the Middle East is impacting energy prices, and this impacts then our gas storage levels,” she said.
Itkonen further explained that the EU has no legally required strategic gas reserves, meaning the possibility of creating dedicated stockpiles could become a subject of discussion.
“This is something that we can start having a discussion about strategic gas reserves,” she said.
Meanwhile, difficulties affecting maritime traffic through the Strait of Hormuz are making it harder for European countries to replenish their gas inventories. At the same time, lower supplies of liquefied natural gas (LNG) from the Middle East are adding pressure to the international market.
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