EU Gas Storage Levels Lag Behind Last Year's, But Officials Remain Confident

The European Union's gas storage levels are currently at 62% of capacity as of August 20, according to Eva Hrncirova, a European Commission spokesperson. This is lower than the same time last year, when storage was filled to 74% of capacity.

Hrncirova assured that there is no immediate concern about natural gas supply in the EU despite lower storage levels. The bloc's diversified LNG and pipeline sources are seen as a safeguard against potential winter shortages.

The high gas prices since the U.S.-Israeli war with Iran have made it unappealing for companies to buy fuel for storage, contributing to the current challenges in filling gas storage ahead of winter.