Gazprom: Natural gas stocks in EU countries are at historic lows

Aleksey Miller, President of Russian energy company Gazprom, said that natural gas stocks of European Union (EU) countries have fallen to historical low levels before the autumn-winter season.

In the statement made by Gazprom, it was reported that the occupancy rate of underground natural gas storages in Europe was 72 percent as of October 1.

In the statement, it was stated that the amount of gas in the warehouses in Europe was 11.3 billion cubic meters lower than the same period last year, and the occupancy rate in the Baltic countries' only underground natural gas tank, Incukalns, dropped to a record low level for October 1, with 49 percent.

Miller, whose views were included in the statement, said, "EU countries continue to record historical low levels in gas fields before the difficult autumn-winter season." he said.

The EU made it mandatory to fill natural gas tanks to 90 percent in response to the energy crisis following the Russia-Ukraine War. The Union changed its storage rules last year, providing member countries with flexibility in targeting in difficult market conditions. The 90 percent target was allowed to be achieved between October 1 and December 1, and warehouses were allowed to be filled at 80 percent under certain conditions.