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Atlantic Hurricane Season May be Bullish for EU Gas: Montel

LNG

Europe’s over-reliance on US LNG imports demonstrates the risks during the hurricane season on the region’s gas market this winter, according to LSEG, cited by Montel.

  • The US agency National Oceanic and Atmospheric Administration (NOAA) has forecast above-normal activity in the Atlantic basin hurricane season this year.
  • “These are the ones that could knock out platforms and cause real problems in terms of the energy-producing facilities. So, this is something you really need to keep an eye on,” LSEG’s Wayne Bryan said.
  • In 2023, the US comprised around 46% of the EU’s total LNG imports.
  • While European gas storage should be in a strong position by the time winter arrives, a particularly cold season could push storage levels down to around 32% of capacity, making winter 2025/26 more problematic.
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