European gas reserves slip below 90%: Operator

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Gas Infrastructure Europe (GIE) data showed that the onset of winter temperatures has caused Europe to increase gas pumping from its underground storage facilities (UGS), with the level of gas reserves falling below 90%.

European UGS are full by 89.93%, according to the statistics, after losing 0.47 percentage points in a day.

Meanwhile, Rystad Energy analysts stated that the European Union increased its imports of liquefied natural gas in November prior to a spike in energy demand.

The company predicted that gas production from the UGS will range between 300 and 500 million cubic meters per day, as temperatures set to drop.

Europe was largely reliant on Russian gas and scrambled to increase its supplies before winter after exports from Russia were stopped following the start of the war in Ukraine.

According to IEA projections, Europe might run out of natural gas by the summer of 2023, which would be a significant portion of what the continent needs to refuel its gas storage system before the onset of winter. 

It is also expected that getting gas for the upcoming winters will be harder for European nations now that they are mostly cut off from Russian supplies and there is increasing worldwide rivalry for limited supplies of liquefied natural gas.