Business · Energy & Commodities · 5 hrs ago
Europe’s gas reserves are low as prices reach their highest since 2022
Europe is heading into winter with gas storage at 73% of capacity, 15 percentage points below the average for the past five years.
The European Union had aimed to fill storage to 90% by November 1, but supply difficulties have made that goal harder to reach.
Gas prices are 80.4 euros per megawatt-hour, twice their level in June and the highest since the winter of 2022.
Storage levels vary widely: Poland is nearly full, while Germany, the Netherlands and several eastern European countries are only a little above half full.
This matters because gas pipelines cannot easily move supplies in every direction, leaving some countries more exposed even when Europe’s overall storage figure looks higher.
Europe typically uses gas equal to half its storage capacity between November and the end of March, while colder October weather is already increasing demand.
If supply through the Strait of Hormuz remains disrupted, the region could face greater difficulty securing enough gas and may see prices stay high.
European gas reserves are at 73% of capacity, 15 percentage points below the average for the past five years.
Gas prices are €80.4 per megawatt-hour, double their June level and at their highest since the winter of 2022.
The reserve level is the lowest for this time of year since 2011, according to Expansión.
Europe had set a goal of filling reserves to 90% by November 1.
Supplies are uneven across countries, and pipeline limits could make it difficult to move gas to areas facing shortages.
- Who
- European countries and gas consumers.
- What
- Gas reserves are low and prices have risen to €80.4 per megawatt-hour.
- When
- October 2026; the article was published on October 11, 2026.
- Where
- Europe.
- Why
- The article cites difficulties supplying gas through the Strait of Hormuz and colder October temperatures increasing demand.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
Securing gas supplies for winter became a priority for European energy policy.
The European Union set a goal of reaching 90% of storage capacity.
Colder temperatures in parts of Europe began increasing gas demand as reserves stood at 73% of capacity.
Expansión reported that gas prices had reached €80.4 per megawatt-hour.
- European gas reserves
- 73% of total capacity
- Five-year average gap
- 15 percentage points below average
- Gas price
- €80.4 per megawatt-hour
- European reserve target
- 90% by November 1
- Poland's reserves
- 99.1% of capacity
- Germany, Netherlands and many eastern European countries
- Just over 50% of capacity
Sources
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