European gas stocks hit 2013 low
Data from the European Gas Infrastructure Institute shows that gas inventories have dropped to their lowest levels since 2013, with storage facilities filled to only about 63.28%, which is 17.24 percentage points below the five-year average. The European Union currently holds approximately 69.2 billion cubic meters of gas, down about 14.3 billion cubic meters compared to last year, and only 57% of the targeted volumes have been injected since April. Estimates suggest that Europe's stocks may range between 70% and 75% ahead of the winter season, raising supply security concerns, especially if demand increases. Additionally, gas injection activities hit their lowest levels in six years during August, as the process of replenishing reserves continues to remain weak.
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