European gas stocks at lowest seasonal level; demand seen falling 7%
European Union gas storage was 72.4% full on 3 October 2026, the lowest seasonal level recorded since 2011. A report by the Institute for Energy Economics and Financial Analysis estimates that the EU may have to cut gas demand by 7% year on year compared with last winter, and that covering the shortfall with additional imports could cost 3 billion euros. The report adds that the full ban on Russian LNG imports enters into force at the start of 2027.
Why it matters: The combination of record-low seasonal storage and a recommended demand cut rather than added storage capacity places energy security at the centre of EU winter planning.