Europe Unlikely to Reach 80% Winter Gas Storage Target

Equinor CEO Anders Opedal told Reuters that Europe is unlikely to fill its natural gas storage facilities to the 80% capacity target before the winter heating season. Current European gas storage levels stand at roughly 54%, the second-lowest level for this time of year in 15 years. Opedal attributed the shortfall to a tight global liquefied natural gas (LNG) market, where Middle East supply disruptions – including shipping halts in the Strait of Hormuz due to the US-Iran conflict – have forced…