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Europe to Manage Winter Gas Supply but Risks Tighter Sum 2024: Equinor

NATGAS

Equinor sees a good outlook for gas supply to Europe for the coming winter given high gas reserves and plentiful access to supplies according to Reuters. The winter could see volatility with any periods of supply disruption. Gas supply could tighten next summer due to lower reserves at the end of the upcoming winter season.

  • “Europe will manage in terms of gas through the winter. The big question is at what level will gas reserves end up in spring,” said CEO Anders Opedal.
  • “If we get a normal winter in Europe and the need from industry does not change, and that there is good access to liquefied natural gas, then Europe gas storage will end up at 40% at the end of next winter - lower than this spring.
  • A colder than usual winter in Europe and Asia could see tighter supply next summer with potential for stock levels below 40% at the of winter.
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