Gas reserves in European storage facilities reach historic low ahead of heating season

As of the end of August 2026, gas reserves in Europe's underground gas storage (UGS) facilities have fallen to 65.39%. According to Gas Infrastructure Europe data, this is the lowest level for this date since records began in 2011. The volume of gas in storage reached approximately 71.5 billion cubic meters, which is 14 billion cubic meters less than a year earlier.

The situation is complicated by the fact that in August, gas withdrawals from storage reached a five-year high, totaling 771 million cubic meters, which is 11% higher than last year's figures. Meanwhile, gas injection into UGS facilities decreased by 8% to 10 billion cubic meters. As a result, the net injection volume for August was 9% lower than last year's level, amounting to 9.2 billion cubic meters.

According to Gazprom's forecasts, the storage occupancy level by the start of the heating season may not even reach 75%. European Commission regulations require that reserves be brought to 90% of UGS capacity between October 1 and December 1. To meet this target, taking into account the permissible 10% margin, Europe needs to inject at least another 68 billion cubic meters of gas. Currently, only 60% of the required volume (41 billion cubic meters) has been completed.

Several factors have negatively impacted storage filling rates: abnormal heat in June and July, which increased electricity demand for air conditioning systems, as well as high fuel costs. In addition, Europe has faced stiff competition with Asia for liquefied natural gas (LNG) supplies against the backdrop of the Middle East conflict.

LNG imports to the EU in August amounted to approximately 9.1 billion cubic meters, which is 6% less than in August 2025. In the first eight months of 2026, LNG deliveries to the European gas transmission system slowed to 90.3 billion cubic meters, which is 2.8% lower than the figures for the same period last year.

Source: tass.com

Prepared by:Yulduz Salimov