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European natural gas transmission operators say the EU is ready, but warn of low storage rates

European natural gas transmission operators say the EU is ready, but warn of low storage rates

智通财经智通财经2026/10/09 12:07
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(1) The European network of natural gas transmission system operators stated that despite storage levels being only 72% as of October 1, its infrastructure can still meet winter demand, emphasizing the core role of LNG. (2) The organization noted that EU underground gas storage was at 72% on October 1, following a challenging injection process. (3) This level is about 811 TWh, or nearly 74 billion cubic meters, compared to 83% and around 940 TWh on October 1, 2025. (4) The organization maintains that the infrastructure retains sufficient flexibility to meet demand and relies on LNG, with other countries also exploring this supply option. (5) The European average masks significant disparities among member states, with France at roughly 85% storage and Germany at only 59%. (6) The organization recommends continued injections early in the cold season when market and infrastructure conditions allow and calls for close monitoring of storage levels and gas system conditions throughout the withdrawal period. (7) LNG imports can partially fill the storage gap and aid winter supply. (8) According to the organization, European regasification capacity is roughly 1,600 TWh, or nearly 145 billion cubic meters, for the entire winter. (9) However, this capacity does not guarantee actual cargo availability, which depends on global markets and commercial decisions. (10) The report believes that maintaining high LNG deliveries throughout the winter is crucial; under the baseline scenario, about 1,060 TWh of LNG, or nearly 96 billion cubic meters, is required this season to keep storage at 30% by the end of March 2027. (11) The organization warns that if LNG supply remains restricted, storage could fall significantly below 30% by winter's end, increasing European gas system vulnerability to a late-winter cold spell. (12) The report also highlights regional differences, particularly for landlocked countries in Central, Eastern, and Southeastern Europe, which may find it harder to access sufficient LNG volumes.

⑴ The European gas transmission system operators’ network stated that although the storage rate was only 72% as of October 1, its infrastructure can still meet winter demand and emphasized the key role of liquefied natural gas. ⑵ The organization said the EU’s underground storage sites had a 72% fill rate on October 1, following what was described as a challenging injection process. ⑶ This level is about 811 terawatt-hours, or nearly 74 billion cubic meters, compared with 83% and about 940 terawatt-hours on October 1, 2025. ⑷ The organization still believes the infrastructure retains enough flexibility to meet demand and relies on liquefied natural gas, while other countries are also exploring this supply option. ⑸ The European average masks significant differences among member states, with France’s storage rate at about 85% and Germany’s only 59%. ⑹ The organization recommends continuing injection at the start of the cold season, when market and infrastructure conditions allow, and calls for close monitoring of storage levels and the gas system’s status throughout the withdrawal period. ⑺ Liquefied natural gas imports can bridge part of the storage gap and contribute to winter supply. ⑻ According to the organization, Europe’s regasification capacity over the winter is around 1,600 terawatt-hours, or nearly 145 billion cubic meters. ⑼ However, this capacity does not guarantee the actual availability of cargoes, which depends on global markets and commercial actors’ decisions. ⑽ The report believes that maintaining substantial liquefied natural gas deliveries throughout winter is crucial; under the baseline scenario, about 1,060 terawatt-hours of liquefied natural gas—nearly 96 billion cubic meters—are needed this season to keep storage at 30% by the end of March 2027. ⑾ The organization warns that if liquefied natural gas supplies remain tight, storage levels at the end of winter could be far below 30%, increasing the European gas system’s vulnerability to late-winter cold snaps. ⑿ The report also highlights regional disparities, particularly for landlocked countries in Central, Eastern, and Southeastern Europe, which may face greater difficulty securing adequate liquefied natural gas volumes.
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