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Gazprom's EU Storage Warning Amid Fall in ‘Reliable’ Supply

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Russia's Gazprom warned on March 3 that Europe is rapidly depleting its gas stocks, making it difficult to restock over the summer due to a fall in “reliable” supply sources, Platts reported.

  • Despite normal winter weather, EU gas storage sites were only 38.2% full as of March 1, compared to 62.2% the previous year.
  • "Europe will approach the beginning of the injection season with noticeably empty storage facilities," Gazprom said in its market update, cited by Platts
  • "Given the reduction in reliable sources of gas supply, it will be difficult to fill European gas storage facilities this summer and thoroughly prepare for winter," it said.
  • The suspension of Russian gas deliveries via Ukraine since January 1, following the expiry of the transit deal, has resulted in a loss of 15 Bcm/year of gas supply.
  • The EC is expected to propose extending the EU's gas storage regulation.
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Russia's Gazprom warned on March 3 that Europe is rapidly depleting its gas stocks, making it difficult to restock over the summer due to a fall in “reliable” supply sources, Platts reported.

  • Despite normal winter weather, EU gas storage sites were only 38.2% full as of March 1, compared to 62.2% the previous year.
  • "Europe will approach the beginning of the injection season with noticeably empty storage facilities," Gazprom said in its market update, cited by Platts
  • "Given the reduction in reliable sources of gas supply, it will be difficult to fill European gas storage facilities this summer and thoroughly prepare for winter," it said.
  • The suspension of Russian gas deliveries via Ukraine since January 1, following the expiry of the transit deal, has resulted in a loss of 15 Bcm/year of gas supply.
  • The EC is expected to propose extending the EU's gas storage regulation.