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Opinion
Liam Denning

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. 

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

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.