EU Natural Gas Inventories Near Two-Decade Lows Ahead of Winter

The European Union is bracing for a potentially tight natural gas market this winter due to low inventories, which have dropped to near two-decade lows. The current storage levels are a result of the Iran war's impact on prices and disrupted summer stockpiling.

However, EU officials remain optimistic that imports of liquefied natural gas (LNG) during the winter months will help alleviate some pressure on supplies.

A spokesperson for the European Commission noted that the bloc can rely on 'significant spare LNG import capacity' to support additional imports during the winter period. This flexibility is expected to complement storage usage in providing a buffer against potential supply disruptions.