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Europe will struggle to replenish its depleted gas storage sites to a targeted 80% filling level before the start of next winter, Equinor's head of finance says.
Equinor's CFO says Europe likely won't reach 80% gas storage before next winter.
KEY POINTS
- European gas storage is currently 30% full, six percentage points below seasonal norms.
- Middle East war has cut Qatari LNG capacity by 17%, possibly taking five years to repair.
- Expectations for a glut of LNG this decade have been revised downward since six months ago.
- Gas market vulnerability is expected to persist longer than oil due to prolonged LNG supply issues.
COMPANIES
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