Europe may need high gas prices to fill storage facilities — Equinor

According to the recent statements of vice president of Equinor Peder Bjorland for Reuters, keeping blue fuel prices attractive to suppliers will be necessary to replenish European storage facilities. The EU will have to supply 30 billion cubic meters of liquefied natural gas (LNG) to meet their refilling targets.

As the expert noted, the region must set higher and more competitive prices for the resource compared to China and other Asian buyers to attract shipments. 

As calculated by Equinor, the region will need 250–300 additional LNG cargoes compared to the previous year to offset winter fuel consumption. At the same time, such actions may tighten the market conditions.

Earlier, the European Parliament allowed the easing of regulations regarding the filling of the region's gas storage facilities amid fears of a possible surge in energy prices.