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EU Sees No Immediate Gas Supply Risk; Says 80% Storage Enough for Winter

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The European Union sees no immediate gas supply risk for next winter, while officials said 80% storage levels will provide sufficient security, the European Commission said Wednesday.

During Tuesday's Gas Coordination Group meeting, experts representing the European Commission, European Union member states and industry associations assessed winter preparedness and the bloc's gas supply outlook.

Although gas storage remains below pre-crisis averages, the group said current inventories do not threaten next winter's supply. It also confirmed that reaching 80% storage will provide sufficient supply security, the European Commission said.

The group said reopening the Strait of Hormuz could ease pressure on global liquefied natural gas markets later this year. However, members warned that the conflict continues to weigh on global gas supplies.

The European Network of Transmission System Operators for Gas reaffirmed its Summer Supply Outlook, while industry groups highlighted the resilience of the European Union's energy market.

The Commission said it will continue to monitor conditions and coordinate action when needed.

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