Low Storage Buffers In Europe Could Prolong Gas Market Tightness Into 2027: IEA
The agency says limited inventories and a 3% drop in global LNG supply could keep spot prices elevated and strain cargo availability through 2027.
- On Tuesday, the International Energy Agency released 'The Global Gas Security Review 2026', revealing that the European Union is entering the winter heating season with its lowest natural gas storage levels since 2013.
- The effective halt of LNG flows through the Strait of Hormuz reduced supply from Qatar and the United Arab Emirates by more than 60 billion cubic meters between March and October, driving Asian and European prices to multi-year highs.
- Global LNG supply is projected to fall by 3 percent, or almost 20 bcm, in 2026, while total gas demand is expected to decline by around 1.5 percent, or close to 65 bcm, driven by industrial consumption shifts in Europe and Asia.
- Limited storage options in Asia and South America, combined with Europe's inventory deficit, could intensify competition for scarce flexible LNG cargoes in the coming months and place upward pressure on spot prices during peak demand.
- Replenishing inventories through summer 2027 could extend global market tightness well into the coming year, leaving Europe particularly exposed to technical outages or colder-than-expected winter weather.
29 Articles
29 Articles
Europe is heading into winter with the lowest level of natural gas stocks since 2013, which could prolong tensions on the global gas market until 2027, the International Energy Agency (IEA) warned Tuesday, AFP and DPA report, according to Agerpres.
Europe is heading towards winter with the lowest level of natural gas stocks from 2013 to the present, which could extend to 2027 global gas market tensions, the International Energy Agency (IEA) warned Tuesday. On 30 October, the EU's natural gas warehouses were full in ...
According to a report by the International Energy Agency (IEA), the European Union is entering the winter heating season with the lowest natural gas stocks since 2013, amid expectations that pressures on global gas markets will continue until 2027.
Europe is entering this winter with its lowest natural gas stock levels since 2013, and pressures on international markets will continue into next year, the International Energy Agency (IEA) has warned. European storage facilities were 75 percent full at the end of October, below the EU target of 80 percent.
This year's interruption has brought gas prices in Asia and Europe to the highest levels since the 2022-2023 supply crisis, notes the International Energy Agency.
According to a forecast by the International Energy Agency, the filling levels of European gas storage systems could fall to a record low, which is expected to increase gas prices next year.
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