European gas storage levels remain below last year’s level

Net injections — the balance between gas added to and withdrawn from underground storage — across EU countries have exceeded 15 billion cubic metres since the start of the summer injection season in April 2026, according to calculations based on data from Gas Infrastructure Europe and cited by Russian media.

Despite ongoing replenishment, European underground gas storage facilities are currently 42.1% full, compared with 50.5% at the same point last year. Total stored volumes stand at around 46 billion cubic metres.

Under rules set by the European Commission, member states are required to ensure storage sites are filled to at least 90% between October 1 and December 1 each year, with a 10% flexibility margin allowed under difficult conditions.

Meeting this benchmark ahead of winter 2026–2027 would require net injections of at least 68 billion cubic metres. A year earlier, the EU achieved roughly 55 billion cubic metres.

Market conditions remain challenging, with elevated fuel prices expected over the summer amid intensified global competition for liquefied natural gas cargoes, particularly between Europe and Asia, a dynamic exacerbated by geopolitical tensions in the Middle East.

Gazprom has warned that European storage levels may struggle to reach even 70% ahead of the next heating season, underscoring the risk of tighter supply conditions heading into winter.