Story perspectives
EU Gas-Buying Scheme Falters, Storage Below Five-Year Average
6/22/2026
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Story summary
- The EU’s gas-buying scheme is failing to curb prices as storage drops below the five-year average.
- EU rules demand 80 % gas-reserve capacity by December, yet reserves are under the five-year norm.
- CEO Patrick Pouyanné warned that without reinstating Qatar supplies Europe will face trouble and prices will not reach 2022 levels.
- Analysts say an Asian summer could push the region onto the spot market, raising competition for Europe’s gas purchases.
