The European Union does not face an immediate risk to gas supply security, although storage levels are below those recorded in previous years. The assessment was made during a meeting of the Gas Coordination Group, which brought together experts from the Community executive and the countries to analyze the energy markets situation and preparation for the next winter.
According to Brussels, the EU is more prepared than in 2021 and 2022, due to greater diversification of supply sources, increased liquefied natural gas import capacity and reduced gas demand. The European Commission states that, based on historical projections, the EU is on track to achieve an adequate level of winter preparedness.
The international situation continues to be marked by uncertainty. The Middle East remains unstable and Qatar's LNG production remains suspended, while recent heat waves in Europe contributed to increased gas consumption for electricity production. This geopolitical instability continues to cause strong volatility in energy prices.
Data from Gas Infrastructure Europe shows that EU gas reserves were filled at 65.85%. Portugal is an exception, with one of the highest reserves in the EU, at a percentage of 93.08%, after Poland with 94.25%. A new meeting of the Gas Coordination Group is scheduled for September 24.
