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Europe's Gas at 2013 Low
Europe is entering winter with its lowest gas stocks since 2013. EU storage facilities were 75% full at the end of October, below the target of 80%. The International Energy Agency attributed this to the closure of the Strait of Hormuz, lower stocks after the previous winter, and delays by buyers in refilling storage. Stored gas was also about 4% below the five-year average. The agency warned that Europe’s growing reliance on global supplies of liquefied natural gas could leave it under pressure in 2027, particularly if the weather turns colder or supplies are disrupted. The German government, meanwhile, said the country’s supplies were secured for the coming winter.
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