The European Union may face a significant gas shortage this winter, according to a recent report by EU gas transmission operators. The report warns that if a severe cold wave hits Europe, the bloc could experience a shortfall of 12% to 15% of its natural gas demand.
This warning comes as Europe enters winter with its gas storage facilities only 72% full, a notable decrease from the 83% full storage seen at the same time last year. The report attributes this lower storage level to what it describes as a 'challenging season of filling reserves.'
The analysis by the European Network of Transmission System Operators for Gas (ENTSOG) explores two scenarios where Europe would lack Russian gas supplies through pipelines. While the EU has reduced its dependence on Russian gas, some landlocked countries like Hungary and Slovakia still rely on it.
The report also highlights that a disruption to the largest offshore gas infrastructure supplying continental Europe, combined with a complete halt to imports via pipelines from Algeria, would pose a serious threat to the bloc's energy security.