Norway becomes top EU gas supplier as storage fills near 62%

Norway has overtaken the United States to become the main gas supplier to the European Union, European Commission spokesperson Eva Hrcinova stated at a briefing in Brussels.

"We currently receive gas mainly from Norway and the United States, with slightly more coming from Norway," Hrcinova said.

The European Commission noted that preparations to fill gas storage facilities ahead of the heating season are progressing normally. "I can admit that the pace is somewhat slower than in previous years, but everything is actually going well, and today we are very close to 62%," Hrcinova said, adding, "We do not aim to completely fill the gas storage facilities. Typically, we only fill 80% of these facilities, meaning the target level is only 80%. And as I said, we are close to 62%."

Despite long-term reduction plans, EU imports of Russian liquefied natural gas (LNG) rose by 14% year-on-year in June, bringing Russian LNG revenue to €60 million per day. Imports to the French port of Montoir quadrupled in June compared to May, as per an RBC report.

The surge in Russian supplies followed market disruptions caused by conflict between the United States and Iran, which sharply curtailed LNG shipments through the Strait of Hormuz and halted exports from Qatar. Data from the Bruegel think tank showed Russian gas comprised 13.4% of total EU gas imports in the second quarter.

The developments come under a European Union regulation enacted in February that mandates a complete phase-out of Russian LNG by January 1, 2027, and pipeline gas by September 30, 2027, with transitional periods for existing contracts.

By Tamilla Hasanova