PRECIOUS METALS | Europe’s Gas Storage Shortfall May Push Winter Prices Higher

According to Jin10, Europe still needs to add more than 100 TWh of gas worth over 7 billion euros, or about $8.1 billion, to reach its minimum 75% storage target, as summer nears its end and its gas storage buffer remains low. Goldman Sachs Group, Rystad Energy, and Morningstar all warned that this could push up winter gas prices, while Kpler LNG chief insights analyst Go Katayama said there is a real possibility of a global scramble for fuel, especially if winter temperatures are low. Katayama also said Europe may have to pay higher prices to secure scarce LNG cargoes if supply disruptions continue into winter.