Brussels:The European Union could encounter significant gas supply shortages during the winter of 2026-2027, with storage levels currently at their lowest for this time of year since records began in 2011. This situation arises amid high prices and global supply disruptions.
According to Emirates News Agency, a report by the Institute for Energy Economics and Financial Analysis (IEEFA) indicates that the EU may need to reduce winter gas demand by 7 percent, equivalent to 14 billion cubic meters, compared to last winter.
Data from the report reveals that as of October 3rd, EU gas storage was approximately 72.4 percent full, a decrease from around 83 percent at the same time last year.
The report also warns that further supply disruptions, coupled with an unusually cold winter, could exert additional pressure on gas prices and energy supplies. This scenario might compel energy-intensive industries and consumers to cut back on consumption.
Europe's increasing dependence on liquefied natural gas (LNG) imports and the volatility in global markets are contributing to growing concerns about the bloc's energy security in the upcoming months.