EU's gas storage currently stands at an impressive 90% utilization level.
Before the projected due date, gas storage facilities across the European Union were almost at their maximum capacity, sitting at a whopping 90%. This announcement was made by the EU Commission in Brussels, declaring their readiness for the upcoming winter. Following Russia's military invasion of Ukraine in the summer of 2022, the 27 EU member nations agreed that storage facilities should ideally be 90% full by November 1st.
As of recent reports, the average filling level was an impressive 90.29%, amounting to approximately 92 billion cubic meters. However, there were variable fill levels among countries. Spain led the pack with a full 100%, while Latvia lagged behind with a dismal 69%. Germany's facilities were filled to 93.6%.
The EU's strategic plan involves lessening its reliance on Russian natural gas. To accomplish this, they plan to import more liquefied natural gas (LNG) from the US and natural gas directly from Norway.
Two-thirds of the EU member states have managed to meet the target set by November 1st, with their storage facilities being at least 90% full. Despite this progress, it's crucial for the remaining countries to quickly fill their storage facilities, as two weeks remaining before winter sets in.
