Europe Heads Into Winter With Its Weakest Gas Cushion In 15 Years
Europe is unlikely to refill its natural gas storage facilities to even 80% before winter, Equinor CEO Anders Opedal said on Wednesday, Reuters reported, raising the prospect that the continent will enter the heating season with its smallest supply buffer in years. European gas storage sites are cur
Source: OilPrice.com
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DW NOTE
Europe cut gas storage draw rates every winter for a decade, betting that Russian pipeline volumes plus LNG spot markets would always be there. Now the pipelines are shut, the Hormuz chokepoint is closed, and the continent enters winter with stocks not seen since before the Ukraine invasion — when it still had the option to refill from Gazprom.