The European Union may need to reduce natural gas demand by 7% this winter, as low gas storage and the Russian LNG ban increase pressure.
智通财经2026/10/09 06:36(1) The Institute for Energy Economics and Financial Analysis (IEEFA) stated that the EU may need to reduce its natural gas demand by 7% year-on-year this winter. (2) Currently, gas storage inventories are low, and as the heating season starts, the region's energy risk resistance capabilities decrease. (3) Europe's natural gas storage facility capacity is only slightly above 73%, far below the usual level of 88% for the same period in previous years. (4) The EU's complete ban on importing Russian liquefied natural gas, starting from January next year, will further increase this pressure. (5) IEEFA estimates that if demand is not reduced and the storage gap is filled by additional natural gas imports instead, the cost would reach 3 billions euros. (6) Due to the Iran conflict driving global natural gas prices higher, this procurement cost is 12% higher than similar-scale purchases in 2025. (7) IEEFA pointed out that, therefore, “increased reliance on storage facilities” has become a significant “financial burden” for Europe.
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