European countries have prepared for the winter heating season, providing record reserves of natural gas. According to Bloomberg, most gas storage facilities in EU countries are filled by more than 90%. This was made possible by the active supply of gas from Norway and the United States, which ensured market stability.
Slovakia and Austria, which traditionally depended on gas supplies from the East, were also able to accumulate sufficient fuel to overwinter without additional deliveries from Russia. Michael Lewis, the Chief Executive Director of Uniper SE, noted that the completion of the Russian gas transit agreement through Ukraine at the end of the year should not have a significant impact on the European gas market.
Europe is actively cooperating with the United States on the import of liquefied natural gas (LNG) and receives significant gas from Norway. These actions allow to provide the continent with stable supplies, even if the agreement with Russia will end in 2024.
Although the pace of gas pumping into storage has recently decreased, in Germany the storage facilities are filled by 96%, which confirms the success of the preparation for the winter. Egbert Laege, CEO of Securing Energy for Europe GmbH, pointed to the possibility of gas shortage in the event of a very cold winter, but noted that the situation is generally stable.
Thus, even despite the end of the gas transit agreement, Europe is ready for winter, with significant reserves and supply with new suppliers.
