1 of 1
Story summary
- Europe’s natural gas storage is 44% of capacity as of January 26, 2026, the lowest in years.
- The low level follows Russian supply disruptions and ongoing replenishment challenges.
- European gas prices trade at a premium for summer futures, discouraging storage.
- Despite expected higher global LNG production, Europe risks entering the next heating season with insufficient reserves.
- Cold weather forecasts heighten concerns about supply reliability.
