Europe's gas storage hits record low for early August

Europe's underground natural gas storage facilities have reached their lowest level on record for early August, raising concerns over the region's ability to build sufficient reserves ahead of the 2026–2027 winter heating season.

According to calculations by Russia's TASS news agency based on data from Gas Infrastructure Europe (GIE), European underground gas storage (UGS) facilities were 57.11% full at the beginning of August, down sharply from 68.9% a year earlier. The figure marks the lowest level recorded for this time of year since data collection began in 2011.

European storage sites currently contain approximately 62.4 billion cubic metres of natural gas. Russian energy company Gazprom has previously forecast that European gas reserves may not reach 75% before the start of the next heating season.

Under European Commission rules, EU member states are required to fill gas storage facilities to 90% capacity between October 1 and December 1 each year, although a flexibility margin of up to 10 percentage points is permitted under difficult market conditions.

To meet the target for the upcoming winter, Europe needs to inject at least 68 billion cubic metres of gas into storage. According to the data, around 32 billion cubic metres—approximately 47% of the required volume—has been added so far.

The slower pace of replenishment has been attributed to several factors, including intense competition with Asian buyers for liquefied natural gas (LNG) cargoes during the Middle East conflict, elevated gas prices and prolonged periods of extreme heat across Europe in June and July.

Higher temperatures have increased electricity demand for air conditioning and cooling systems, boosting natural gas consumption for power generation alongside other energy sources such as nuclear, wind and solar.

By Sabina Mammadli