IEA stated that next winter will be more difficult for Europe because of gas shortage

As it is expected, the current winter season poses little risk for European countries due to gas storage in the region being 90% full. However, next winter might turn out to be a difficult period because of insufficient amounts or even total lack of Russian gas. This opinion was voiced by International Energy Agency Executive Director Fatih Birol.

According to a statement made by Birol on the TV channel Haberturk this Tuesday, the risk for Europe will remain relatively low in the upcoming months because its natural gas storage facilities are filled by 90%. As it was noted, the EU countries will make it through the winter if no extreme events happen and the winter itself is not too long and cold. At the same time, Birol drew attention to the fact that the stored gas would start to run out by early spring, declining to the level of about 30% in February-March. Thus, it might be complicated to refill the storage back to 80% or 90% before the next cold season. As underlined by Birol, Europe is still getting some Russian gas this year, while it won’t likely happen next winter.

Birol also suggested that a decline in LNG production is probably to take place next year, while China would become its major purchaser. As it was said by the IEA executive director, China’s LNG imports would increase in the future despite some decline happened this year, and main deliveries of LNG would be made to China, with only a little part of produced LNG being left for Europe.