EU gas storage levels below historical average: Commission

European Union gas storage levels are below the historical average, but the bloc does not currently face a security of supply issue despite the prospect of a difficult winter, European Commission spokesperson Anna-Kaisa Itkonen said Wednesday.

Speaking at the midday press briefing, Itkonen said the EU was closely monitoring gas storage levels and holding more frequent coordination meetings with member states to assess the situation across the bloc.

“On gas storage, we are lower than the historical average,” Itkonen said, noting that the issue was also discussed at last week’s European Council summit.

“Despite the fact that we are headed for a difficult winter, we do not have a security supply issue, but the crisis in the Middle East is impacting energy prices, and this impacts then our gas storage levels,” she said.

Itkonen also noted that the EU does not have legally mandated strategic gas stocks, raising the possibility of discussions on establishing strategic gas reserves.

“This is something that we can start having a discussion about strategic gas reserves,” she said.

Disruptions to shipping through the Strait of Hormuz are complicating efforts to replenish European inventories, while reduced LNG supplies from the Middle East are tightening the global market.