Gazprom warns of rising gas supply risks in Europe for upcoming winter

Russia’s Gazprom on Thursday warned that insufficient reserves in Europe’s underground natural gas storage facilities could pose significant risks to consumers during the upcoming winter season.

In a statement, Gazprom said underground gas storage sites across Europe are being refilled at a slower pace, with the gap widening compared with the same period last year.

As of July 7, the volume of natural gas in European storage facilities was 10.3 billion cubic meters lower than on the same date last year, and if storage injections continue at the current pace, natural gas storage levels across Europe could remain below 75% by Oct. 1.

Gazprom said inadequate reserves in Europe’s underground gas storage facilities could create significant risks to the reliability of gas supplies for consumers during the approaching winter season.

Natural gas prices in Europe have risen amid developments in the Middle East, while imports of liquefied natural gas (LNG) from Gulf countries have also been disrupted by the ongoing conflict.

Russian gas exports to Europe have also declined significantly due to sanctions.

• liquefied natural gas (LNG)
• Natural gas prices in Europe
• Russia's Gazprom Export