European underground gas storage levels have fallen to a historic low, with the gap between current stocks and seasonal norms widening significantly.
Gazprom highlighted the deteriorating situation, noting that the lag in building up reserves is growing as the heating season approaches.
The data, sourced from Gas Infrastructure Europe, shows that as of June 30, injection volumes remain well below historical averages.
This shortfall has intensified concerns among market participants regarding the region's ability to weather a severe winter without resorting to emergency measures or drastic demand reduction.
The tightening supply picture comes amid ongoing geopolitical tensions that continue to disrupt traditional supply flows.
With storage levels at their lowest point in 15 years, the risk premium embedded in natural gas prices is likely to persist.