EU Gas Reserves Remain Low Despite Record Russian LNG Imports

Despite record imports of Russian liquefied natural gas (LNG), European Union gas reserves remain at a low level ahead of winter. According to data from Gas Infrastructure Europe, as of August 6, underground storage facilities were filled to about 57%, significantly lower than the same period in previous years.

This is the lowest seasonal indicator since the creation of the pan-European monitoring system. To achieve the EU's target of 80% occupancy by the beginning of the heating season, pumping rates would need to accelerate significantly.

Russian gas imports have actually increased this year, contrary to European sanctions, with pipeline gas up 7% and LNG up 11%, according to a report from the EU Agency for Cooperation of Energy Regulators (ACER).