European gas storage hits five-year low as June injections slump 19%

Hot weather and falling LNG imports have left European underground facilities at just 49% capacity, raising concerns over winter supply adequacy.

By Handelsavisen Newsroom · Automated 2026-07-02 11:13 UTC · 1 min read

European underground gas storage (UGS) facilities ended June with stocks at 49.09%, marking the lowest level for the period in five years.

The shortfall stems from a 19% year-on-year decline in gas injections during the month, driven by a combination of hot weather reducing heating demand and a significant drop in liquefied natural gas (LNG) imports.

1 billion cubic meters in June, the lowest monthly import volume recorded in ten months.

The weak injection pace has left the continent with only one-third of the natural gas volumes typically required for the upcoming winter season.

LNG flows into the European Union transmission system fell to approximately 10.1 billion cubic meters in June, the lowest monthly import volume recorded in ten months.

This decline reflects intensifying competition for global LNG cargoes and shifting trade patterns.

With storage levels lagging historical norms, market participants are closely monitoring the balance between supply constraints and potential demand spikes as temperatures cool.