EU Gas Storage Falls to 63% as Winter Approaches

EU gas storage was only 63% full in the last week of August, well below the roughly 80% average for the same period in recent years, according to Jiemian News. Experts said that if current conditions persist, EU gas inventories could fall to their lowest level since 2013 by the start of the winter heating season. The report said conflict involving the United States, Israel and Iran has disrupted energy exports from the Gulf region, making it difficult for the EU to reach its target of 80% storage before winter. It also cited a cold end to last winter and higher gas-fired power generation during Europe's summer heatwaves as factors accelerating storage depletion.