Europe Gas Buffer at Risk as Levels Hit 18-Year Seasonal Low
9 Articles
9 Articles
The war in the Middle East and the blockade of the Strait of Hormuz continue to weigh heavily on the global economy: oil prices have been fluctuating wildly since the end of February, with Brent crude rising with each increase in tension and falling again at the slightest sign of de-escalation. While gas prices have also been highly volatile, they have remained significantly higher than before the war. So much so that Europeans are unsure whethe…
(Brussels=Yonhap News) Correspondent Hyun Yun-kyung = As liquefied natural gas (LNG) prices surge due to the Middle East war, winter stockpiling operations have virtually come to a halt, and Europe...
Europe Gas Buffer at Risk as Levels Hit 18-Year Seasonal Low
European gas-storage levels fell to their lowest for this time of year in almost two decades after the war in the Middle East drove up prices and stalled winter stockpiling, leaving governments with a growing dilemma as the heating season approaches.
Historically low levels, rising gas prices and a heat wave in Europe: The supply situation for the coming winter gives experts cause for concern.
Gas storage levels in Europe fell to their lowest level by this time of year in almost two decades after the war in the Middle East
The relative level of gas reserves in Europe's underground storage facilities at the end of the August 1 gas day reached the lowest level in the history of observations for this date. The average occupancy rate of European storage facilities was 57.11%. This is lower than the previous anti-record in 2021, when the figure on August 1 was 57.28%, Interfax-Ukraine reports. Data from Gas Infrastructure Europe shows that on July 31 the situation was …
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