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EU to End Winter With Gas Stocks at 55%: Moody’s

NATURAL GAS

Europe is likely to exit the winter with gas storage facilities at around 55% full, Moody’s said in a note, cited by Montelnews.

  • “The record high gas storage of around 97.5% as of end November positions the EU well to meet this winter season with very limited risks of energy shortages under our baseline and downside scenarios,” the note said.
  • “The geopolitical tensions between Europe and Russia and episodes of supply disruption, for example, past strikes at Australian LNG facilities, could lead to further tightness in gas supplies,” it said.
  • The EU Commission last week set the bloc’s gas storage targets for 2024. EU natural gas stocks must be at least 45% full on 1 February and preferably 55% full at the time. The EU also set intermediary targets for 1 May of 45% and as well as additional targets for 1 July and 1 September.
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