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
26 July 2024
Oil majors play it safe amid unfavourable terms in latest oil and gas licensing bid rounds allowing Chinese low-ball moves
25 July 2024
Despite huge efforts by India’s government to accelerate crude production, India’s dependency shows no sign of easing
24 July 2024
Diesel and jet fuel supplies face a timebomb in just four years, and even gasoline may not be immune
23 July 2024
Rosneft’s Arctic megaproject is happening despite sanctions, a lack of foreign investment and OPEC+ restrictions. But it will take a long time for its colossal potential to be realised