Europe's Gas Storage Crisis Worsens Ahead of Winter

Europe's gas storage crisis deepens as winter approaches.

The continent is heading into its heating season with its lowest gas inventories in 17 years, and supply available for purchase is tighter than it was in 2022.

European countries need to start buying gas now or risk shortages, but LNG prices are already high due to a bidding war between European and Asian buyers.

The EU's ban on Russian liquefied natural gas imports will take effect from January next year, further reducing supply prospects.