Europe tops storage targets
Europe has already exceeded its gas storage targets for this winter, but risks remain
The European Commission responded to Russia’s weaponisation of its gas supply to the continent by setting a minimum storage target of 80pc by 1 November, an inventory level the bloc has already more than achieved. EU storage levels stood at 93.8pc on 25 October, data from infrastructure operator group Gas Infrastructure Europe shows. German and French inventories were at 97.8pc and 99.8pc respectively, while two member states—Portugal and Belgium—reported 100pc capacity. Latvia has the least in store in percentage terms, with just 56.4pc, but that is a notable outlier as even the second-lowest, Hungary, has achieved the target with 83pc of capacity filled. All western European member states
Also in this section
13 May 2024
OPEC+ has huge amounts of spare capacity amid a tightening market, but nothing can be taken for granted given unclear economic trajectories and geopolitical unrest
13 May 2024
But optimism about island nation checked by competition around African upstream investment and history of false dawns
10 May 2024
The US’ contentious LNG permitting pause has prompted criticism from CEOs and wildly differing interpretations from politicians
9 May 2024
Pipeline boosts Canada’s oil industry by widening its export options, making it less reliant on US market and bringing Asia into the mix