Europe is experiencing the fastest decline in natural gas reserves in six years due to winter conditions. Storage levels have dropped by 83 terawatt-hours since October 1, more than four times the average of the past decade. Concerns are rising as the EU continues to rely heavily on natural gas despite efforts to transition away from hydrocarbons.
Europe is depleting its natural gas reserves at the fastest rate in six years, driven by winter weather and low temperatures. Since October 1, 2023, gas storage levels in the EU and UK have dropped by 83 terawatt-hours, noted energy analyst John Kemp. This decline is more than four times the average over the last decade. Germany's gas storage stood at 90.93% on November 30, but high withdrawals and low injections raised concerns. The EU's total gas storage is at 85.
47% capacity, with consumption reaching 3,761 TWh on November 30, indicating a significant reliance on natural gas. The European gas benchmark, the Title Transfer Facility, hit a 16% increase in November, reaching 47 euros per megawatt-hour
Natural Gas Reserves Europe Winter Weather Transition Hydrocarbons
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