EU natural gas storage was 73.8% full on Oct. 11, below the 5 year average of 88.7% and the 5 year minimum of 77%. In the bloc, Germany's reserves are 60% full and France's are 87%. To offset shortages, Europe now depends heavily on the US, which provided 62% of its LNG this year. Russia supplied 15% of LNG in the current quarter before a ban on Russian LNG imports takes effect in January. Global spot prices have reached their highest levels since late 2022 to compensate for these storage deficits.
Tuesday, October 20, 2026
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EU Warns of Energy Affordability Crisis With Record Low Gas Reserves
Commodities6 days ago
A representative of the EU Commission expects a "very, very difficult winter" characterized by high costs and price instability. The spokesperson warned that the bloc is headed for an "affordability crisis" because the regional energy outlook has become unpredictable and volatile. This assessment follows reports that Europe is entering its heating season with the thinnest gas cushion on record, leaving the market vulnerable to supply shocks.
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