The European Union can meet winter gas demand even though underground storage stocks are at a historic low. This was warned by the European Network of Transmission System Operators for Gas (ENTSOG) in its winter assessment.
As of October 1, gas storage in the EU was filled to an average of 72 percent. ENTSOG defines the level as “historically low” and calls for continued gas injection and close monitoring of stocks throughout the winter season.
“Maintaining high levels of LNG supplies throughout the winter remains key“, the organization said.
LNG to compensate for some of the lower stocks
European gas infrastructure remains flexible enough to cover winter demand, but the assessment depends on continued access to LNG. LNG supplies can partially compensate for lower storage levels and limit pressure on the system in the event of increased demand.
With limited supplies, stocks could fall significantly below 30 percent by the end of winter. This would increase the vulnerability of the gas system, especially if a prolonged cold spell occurs at the end of the season.
The differences between countries are significant. In France, gas storage facilities are about 85 percent full, while in Germany the level is approximately 59 percent.
Higher risk for Central and Southeastern Europe
Securing sufficient gas supplies may be more difficult for landlocked countries in Central and Eastern Europe, as well as for countries in Southeastern Europe. Access to LNG terminals and the possibilities for redirecting flows are more limited.
At the end of September, the European Commission said there was no “immediate risk to the security of gas supplies“, but warned that prices in the winter could be “very high” due to the war in the Middle East. The Commission continues to monitor the situation on energy markets and the preparedness of Member States.
At the end of September, the Association of European Gas Infrastructure Operators (GIE) reported that storage facilities were around 70 percent full. This is the lowest level in decades and below the average of 85 percent over the past five years.
According to ENTSOG, the coming months will depend on the pace of additional filling, the availability of LNG and temperatures in Europe. The organization identifies high supplies of liquefied gas as crucial for maintaining security of supply.
Sources: bta.bg