AIE warns that low gas reserves in Europe threaten to prolong tension in the markets

The International Energy Agency warns that Europe faces a winter with the lowest natural gas reserves in over a decade, potentially prolonging market tensions. The report highlights structural changes in the global gas market, making it more flexible yet complex. Disruptions in LNG flows due to the Middle East conflict have significantly reduced supplies from Qatar and the UAE. Global LNG supply is expected to decrease by 3% in 2026, while demand may drop by 1.5%. Europe's storage levels are at their lowest since 2013, increasing reliance on global LNG supplies. This situation could leave Europe vulnerable to colder winters and supply interruptions, intensifying competition for available cargoes and pushing spot prices higher. The report emphasizes the need for enhanced international cooperation on supply security.