Overview
- Equinor CEO Anders Opedal said on Wednesday that Europe is unlikely to refill its gas storage to even 80% before the 2026–27 heating season.
- European storage stood at about 54% in mid‑July, the second‑lowest level for this date in 15 years according to Equinor and Gas Infrastructure Europe data.
- The European Union’s energy regulator ACER reported that inventories began the summer injection season at roughly 28%, a level left by a colder‑than‑average winter that drew down supplies.
- Tight global liquefied natural gas markets and rising Asian demand have pulled spot cargoes away from Europe, and disruptions affecting shipments through the Strait of Hormuz have intensified that competition.
- EU officials are discussing lowering the previous 90% pre‑winter planning guideline toward roughly 75–80%, a change driven by persistent supply pressure that could push TTF gas prices and household and industrial electricity bills higher.