The US supplied 62% of Europe's LNG this year, followed by Russia at 15% and Nigeria at 6%, while Norway provides 308M cubic meters a day through pipelines. The EU bans Russian gas imports after the fourth quarter, ending Russian supplies to the region. Global LNG prices and European power costs for the fourth quarter have hit their highest levels since late 2022 and early 2023, respectively.
Wednesday, October 21, 2026
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EU Gas Storage Hits Record Low 71.5% Before Winter
Commodities18 days ago
S&P Global forecasts that liquefied natural gas imports into the EU and UK will rise 6.5% in the fourth quarter to reach 491M cubic meters a day. EU gas storage levels were 71.5% full at the end of September, the lowest level on record for this period, compared with 82.5% a year ago and 94.2% in 2024. UBS has warned that the region's gas buffer is thinning as the seasonal drawdown phase begins in approximately one month.
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