Gas stockpiling in the EU has stalled. Europe is counting on winter purchases

▪️With just a few months to go before the heating season begins, EU storage facilities are only 57% full—the lowest level for this time of year since records began in 2009, according to Bloomberg

▪️The European Union is now hoping that LNG imports during the winter will help make up for the shortfall in storage. There is no other option given the shift away from Russian energy sources and reduced supplies from the Middle East

▪️The EU will have to pay more when demand spikes in the winter if global supplies remain at current levels. Europe will also have to compete with Asia and other regions for supplies, Bloomberg emphasizes

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