Europe nears gas storage target

European natural gas prices plunged by a fifth as the EU met its gas storage reserves mark two months ahead of target. The bloc plans to reduce gas consumption by 15 percent this winter


Natural gas Dutch TTF (€ per megawatt hour) 

Aug 30, 2021: 49.68

Dec 21: 180.27
Freezing weather drives price up

Feb 24: 134.32

Mar 7: 227.20
Price spikes as fighting in Ukraine threatens to reduce Russian supplies

Aug 30: €272.60 
Price drops 19.6% after Germany reports its gas stocks are filling up faster than planned

339.20

350
300
250
200
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100
50 
0
	Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug
              2021	2022


Gas in storage (Percent full, August 27) 	000.00 Terawatt hours
Portugal	3.85	100.0
Poland 		36.27	99.6
Denmark 	8.78 	95.1
France 		120.39 	91.5
Sweden 		0.09 	90.8
Belgium 	7.69 	88.4
Spain 		29.68 	84.2
Germany 	203.74 	83.3
Czech Rep. 	35.88 	82.0
Italy 		158.04 	81.7
EU total	887.52 	79.9

EU target: 80% by November 1

1,620 terawatt hours
Russian gas supplies to Europe 2021 
       

Sources: AGSI, Bloomberg, Bruegel 
Picture: Getty Images 
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