European Union enters winter with smallest gas reserves in over ten years

European gas storage levels are at their lowest since 2013, increasing reliance on global LNG supplies as winter approaches. The IEA warns that colder weather or supply issues could make the region vulnerable. Global LNG supply is expected to decline by 3% in 2026, while demand decreases by 1.5%. Increased LNG availability from North America and flexible trade agreements may alleviate market tightness, despite high prices due to halted LNG transport earlier this year. The Netherlands has met its gas storage target, while Germany has not, but the government sees no immediate issues. The Dutch cabinet plans to change gas storage rules to reduce costs for consumers.