The European Union is approaching the 2026–27 heating season with gas storage levels at their lowest since 2013, according to the International Energy Agency’s latest report. The agency says the depleted reserves increase the bloc’s reliance on global liquefied natural gas supplies to meet seasonal demand peaks.
The IEA warns that this could leave the region especially vulnerable if winter is colder than expected, or if technical problems or other supply disruptions occur. Its simulations suggest that EU gas storage could fall below 10% of operational capacity by the end of March 2027 if colder-than-average weather coincides with continued disruption to LNG flows through the Strait of Hormuz.
The agency also notes that gas withdrawal rates from storage tend to decline once inventories fall below 30% of operational capacity, potentially making the market more exposed to further cold spells, equipment failures or supply interruptions. Low reserves at the end of winter would also mean a greater need to refill storage during summer 2027, potentially extending market pressure into the following year.
Sources: ANSA Economia.