Europe Awash With Gas Is Set to Rely More on Ukraine for Storage
- Region risks running out of its own injection capacity
- Mild weather and sluggish demand have damped winter fuel needs
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Europe is set to end the heating season with so much natural gas that the idea of storing more fuel in Ukraine to avoid a price crash is becoming attractive, despite the security risks of such a move.
The region is heading into March with storage facilities over 62% full — a record for the time of the year — according to data from Gas Infrastructure Europe. The continent is nearing the end of what has been an exceptionally mild winter, which has weighed on fuel needs and will lead to less injection capacity over the summer months.