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Update: EU Shrugs Off Concerns Over Gas Supplies or Storage Levels

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(Updates with additional details from the European Commission throughout the story.)

European Union natural gas storage stands at 62% of capacity, and there is no immediate threat to the bloc's energy supplies, Eva Hrncirova, spokesperson for the EC, said during a press briefing Thursday.

EU member states are struggling to replenish inventories ahead of the winter heating season. Surging fuel costs, triggered by the Middle East conflict, have priced companies out of the market, deterring them from purchasing and stockpiling gas.

"We keep working on it together with the member states so that we can get to the adequate level before the heating season," Hrncirova said during the briefing, adding that gas storage facilities are filling at a slower pace than last year and are now very close to 62%.

"There is no immediate concern for the security of gas supply in the EU ahead of the next winter season," Hrncirova said.

She went on to add that the EU does not aim to fill storage facilities to 100%, with 80% considered the maximum target. "We don't aim for the full gas facilities for storage and normally we store only 80% of these storages, so the level is only 80% and as I said, we are close to 62%," she said.

She added that if there were any issues, the EU would be prepared to call an emergency, noting that this was not the case at this stage.

Responding to a question about the impact of disruptions in the Strait of Hormuz on gas supplies, Hrncirova said there was no risk to supply security at present.

"Obviously we are in a very volatile context, but we can say that there is no risk of a disruption to the security of supply, despite the fact that we were also pressed by the heat waves here and the electricity system was pressed by the heat waves here in the European Union," she said.

Asked who was providing the bloc's gas supplies, Hrncirova named Norway and the US as the biggest suppliers, noting that Norway was supplying a bit more than the US.

"We are very well on track to secure the gas supply for winter," the spokesperson said.

In an emailed response to' request for comment, an EC spokesperson said, "There is currently no immediate concern for the security of gas supply in the EU ahead of the next winter season. Gas storage facilities continue to be filled, although at a slower pace than previous years. We keep working with Member States to ensure the necessary storage injection ahead of the heating season."

Storage levels lag significantly behind the 74% capacity recorded at this time last year, according to data compiled by Gas Infrastructure Europe.

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