Yahoo Finance: Europe will enter winter with record gas shortages

July 29 2026 2 666 11

This winter, Europe faces a gas shortage due to declining global production and depleted reserves as a result of the conflict in the Middle East, writes news Yahoo Finance resource.

Liquefied natural gas (LNG) is a key component of the overall energy mix in the UK and continental Europe. On the continent, natural gas accounts for about one-fifth (21%) of total energy consumption, according to a Eurostat study, with LNG accounting for about 40% of gas consumption.

An estimated 89% of Europe's total gas supply in 2025 will come from non-EU countries, and analysts at Wood Mackenzie warn that the community is "approaching an energy crisis."

The company's research shows that stocks of the raw material in Europe are "just over 50% of what is needed, which is an unprecedented low" for this time of year.

Low inventories in Europe, strong demand in Asia and limited new LNG supply virtually guarantee high prices throughout this winter and into 2027.

– said Massimo Di Odoardo, Vice President of Gas Market Research at Wood Mackenzie.

By November 1, European storage facilities are expected to be at best 75% full. This is significantly lower than the 90% average for previous years.

However, Mr Di Odoardo said the situation was not a repeat of "2022" as gas prices in Europe were not as high.
The supply shortage in Europe is exacerbated by several key factors: first and foremost, the ban on Russian gas purchases, which has been introduced in stages over several years and is expected to be followed by a complete ban on LNG by the end of this year.

At the same time, supplies of “traditional” Qatari gas are also impossible due to the war.

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Alexander

+1

29 July 2026 21: 24

Europe will enter winter with a record gas shortage.

How can Europe not get tired of entering winter with a gas shortage every year, and Ukraine entering winter with an electricity shortage?
If only we could enter winter with a shortage of oil refineries at least once... for a change.
1. Anton Kuzmin
  
  0
  
  30 July 2026 13: 43
  
  Ostro! If you get jailed, let me know where to send the parcels. I can't promise much, but I can get you some cheap lard in season.
sannyhome

+2

29 July 2026 21: 48

at best, they will only be 75% full. This is significantly lower than the average of 90%.

So what if by spring there won't be 55% left, as usual, but 40%? So what?
1. Igor M.
  
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  29 July 2026 23: 13
  
  sannyhome, it depends on what the temperatures will be in winter.
  By the way, this spring the minimum was 35,05%.
  1. sannyhome
    
    0
    
    30 July 2026 03: 42
    
    No. This year it was more than 50% in the spring.
    1. Igor M.
      
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      30 July 2026 20: 57
      
      sannyhome, if I didn't know, I wouldn't have written:
      
      https://lenta.ru/news/2026/05/11/zapasy-gaza-v-evropeyskih-hranilischah-opustilis-do-minimuma/
      The filling level of underground gas storage facilities in European countries reached 35,05 percent as of May 10 of this year.
      1. The comment was deleted.
      2. sannyhome
        
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        3 August 2026 10: 58
        
        According to Gas Infrastructure Europe (GIE), as of July 30, 2026, underground gas storage facilities (UGS) in the EU were 56,39% full, containing 60,13 billion cubic meters of gas. In Germany, UGS facilities were 46,54% full, in France – 55,74%, in Austria – 60,19%, and in Italy – 75%.
  2. Anton Kuzmin
    
    +1
    
    30 July 2026 13: 44
    
    I heard there's a non-recoverable minimum there? How close is it to that 35%?
    1. Igor M.
      
      +1
      
      30 July 2026 20: 59
      
      Anton Kuzmin, me too. But I couldn't figure it out right away. They say it varies for different types of storage. But it's somewhere close to 35%.
      1. Anton Kuzmin
        
        +1
        
        31 July 2026 09: 01
        
        Well, that's exactly what I thought. So, the recoverable reserves have really been reduced to zero. I guess. We could pump out a little more, but that would be almost like mining—more of a hassle and more expensive. And the details? The details aren't really needed. A general idea for the average person /blushes modestly/ :) will suffice! :)
        
        sannyhome
        
        0
        
        3 August 2026 11: 04
        
        Quote: Anton Kuzmin
        General idea
        
        Here's a general idea: similar levels of gas in EU storage facilities were in 2010. True, Russia was pumping gas there, but the overall level of expenditure was much higher than today. And yet, they managed.
        
        FYI non-removable level is 10%, buffer up to 60%, depending on the storage type.