EU Gas Reserves Hit Record Low Before Winter, Could Plunge to Just 11% | Times Now World

By Times Now World

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The European Union faces a potential natural gas shortfall of up to 14 billion cubic metres this winter, equivalent to around 7% of its gas demand, as depleted storage, high prices and geopolitical disruptions raise concerns over supply security. The Institute for Energy Economics and Financial Analysis says EU gas reserves have fallen to just above 70%, their lowest level for this time of year since records began in 2011. A winter supply outlook from the European Network of Transmission System Operators for Gas warns that storage could fall to 11% under a tight-supply scenario. The war involving Iran is disrupting global energy markets, while an EU ban on long-term Russian LNG supply contracts due in January could further reduce imports. IEEFA estimates that replacing missing supplies with additional liquefied natural gas could cost European buyers an extra €3 billion compared with the previous year. Analysts warn that Europe could face higher energy bills and greater pressure on hous

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