Liam Denning, Columnist

There’s a Hole at the Heart of Europe’s Gas Supply

The continent theoretically has enough gas to last the winter but lacks the flexibility to use it.

October 8, 2021 at 1:39 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

A storage silo at the liquid natural gas (LNG) terminal, operated by LNG Croatia LLC, in Krk, Croatia, on Monday, Jan. 25, 2021.
Photographer: Bloomberg/Bloomberg

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Europe has the gas. Whether that will cover all eventualities is a different, more anxious question.

The continent’s natural gas storage facilities are 76% full. That is by far the lowest level at the beginning of heating season in the past decade.