BAKU, Azerbaijan, October 12. The EU gas system
is ready for winter despite lower gas storage levels, the European
Commission said.
According to a statement published on the European Commission’s
website, the Gas Coordination Group recently held another meeting
to assess the current situation in the European gas market.
Participants also heard a presentation by the European Network
of Transmission System Operators for Gas (ENTSOG) on the key
findings of its forecast on preparedness for the 2026–2027
winter.
“Although gas storage levels are below historical averages, the
report confirms that the EU gas system has sufficient flexibility
to meet demand this winter. EU infrastructure allows for increased
imports of liquefied natural gas (LNG) to offset lower storage
levels.
“ENTSOG also highlighted the importance of maintaining adequate
gas storage levels throughout the season to handle cold spells in
late winter and facilitate the refilling of storage facilities next
summer.
“The current situation differs significantly from the winter of
2021–2022. The EU is now better prepared thanks to the
diversification of gas supplies, increased LNG import capacity and
reduced gas demand,” the European Commission said.
The statement emphasized that LNG import volumes into the EU
will depend primarily on winter temperatures and their impact on
gas demand.
“Ultimately, market participants decide whether to import LNG or
withdraw gas from storage facilities,” the statement said.
The European Commission also presented information on the
implementation of the REPowerEU regulation concerning gas, focusing
on preparations for the expiration of long-term contracts for
Russian LNG imports starting early next year.
The European Commission will continue to closely monitor gas
storage levels, supplies and prices throughout the winter in
cooperation with EU countries and market participants, the
statement added.
