European energy storage demand falls

How long will gas storage last in Europe?

Full gas storage could sustain European countries for, at best, about three months, according to Aurora Energy Research. In Germany, home to nearly a quarter of the EU's storage, stored gas could meet 80 to 90 days of average demand.

Will Europe's gas storage be 80% full?

Following a scramble for fuel over the summer after top European gas supplier Russia invaded Ukraine, Europe's gas storage is now 79.94% full, Gas Infrastructure Europe data shows, setting up countries to exceed their target to have 80% full storage by November. In a normal year that could cover Europe's winter peak in gas use.

Will Europe have a low gas storage capacity in 2023-24?

A recent analysis by Paula Di Mattia, European gas market analyst at commodities consultancy ICIS, also showed that in five out of seven scenarios, Europe could head into the winter of 2023-24 with gas storage sites at only 65 per cent of capacity, the lowest level at that point since at least 2016, when records began.

How has the energy crisis affected Europe?

While natural gas supply to Europe was front and centre of the crisis, the ripple effects have been felt throughout the energy industry and across all regions of the world. In the European Union, the carbon dioxide intensity of the power sector increased significantly in 2022.

How much gas is stored in the EU?

Gas storage in the EU is now at more than 90%. It was 30% in February 2022, and since then we have been working with EU countries to increase Europe’s energy reserves In order to secure the EU's energy supply at affordable prices, the Commission and the Member States have established an EU Platform for the common purchase of gas, LNG and hydrogen.

Will Europe have enough storage in 2022?

Scenarios that would allow Europe to have ample storage levels involved significant demand destruction either in the winter or throughout November 2022 to September 2023, as well as raised LNG imports to 440mn cubic metres a day, more than this year.