EUROPE FACES WINTER WITH HISTORICALLY LOW GAS RESERVES

BRUSSELS, OCTOBER 8 /SRNA/ - Europe is entering winter with historically low levels of gas in storage, the European Network of Transmission System Operators for Gas /ENTSOG/ said today.

The European network added that the EU would be able to meet gas demand during the winter, although close monitoring would be required.

"Europe is entering winter with historically low gas storage levels, while prices are rising and becoming increasingly volatile globally due to supply disruptions from the Middle East caused by the conflict. EU underground gas storage facilities were around 72 per cent full on October 1," the statement said.

The bloc's target is for gas storage facilities to be around 90 per cent full by the start of winter, although greater flexibility has been allowed because of the energy crisis.

Storage levels vary considerably across the bloc, ranging from 85 per cent of capacity in France to just 59 per cent in Germany.