EU gas storage was 71.5% full at the end of September, well below the 15 year average of 88% and the 94.2% level seen in 2024. The region faces a planned ban on Russian LNG imports in January, while Russia currently provides 15% of its LNG. To fill the gap, S&P Global expects Q4 LNG imports into the EU and UK to rise 6.5% to 491M cubic meters a day, increasing reliance on the US, which supplied 62% of EU LNG this year.
Tuesday, October 20, 2026
Story
EU Says Gas System Ready as Spot Prices Double on Low Storage
Commodities12 days ago
The European Union's Gas Coordination Group concluded that its energy infrastructure can meet seasonal demands even with inventories at historic lows. However, an EU Commission spokesperson warned of a very difficult winter for energy prices, as global natural gas spot prices have doubled year-on-year. This supply shortfall increases the likelihood of a bidding war between European and Asian buyers for US liquefied natural gas (LNG) cargoes to offset shortages.
Looking for more context or analysis?
Tilt chat provides reliable, tailored insights, alerts, and automations.