The world faced a large-scale crisis СПГ: what awaits Europe
Europe is entering the winter season with the lowest gas reserves in recent years amid a sharp decline in liquefied natural gas supplies from Qatar. In the event of cold weather, this may cause a new jump in prices.
This is reported by The Economist.
European gas storage facilities are currently filled with approximately 73%. For comparison, in 2022-2025 the average for this period was about 90%.
Especially low level of stocks recorded in Germany - about 59%.
The situation is complicated by a sharp reduction in the supply of liquefied natural gas from Qatar after the closure of the Strait of Hormuz. Since then, the country has sent only 98 batches of СПГ to 536 less than in the same period of 2025 year.
The total deficit of Qatari supplies is estimated at about 39 million tons, which corresponds to about 9% of the world volume of СПГ over the past year.
Analysts warn that in the case of cold November gas prices can rise to 30 - 40 dollars per million British thermal units. During the long cooling competition between Europe and Asia for free parties СПГ will only intensify.
The Economist notes that many European buyers are counting on a soft winter through El Nigno and postpone the active replenishment of stocks.
At the same time, Germany has already instructed the state importer to the middle of December to provide additional volumes of gas equivalent to approximately eight batches of СПГ.
If supplies from Qatar do not resume in the near future, Europe may need an additional about 20 million tons of СПГ to replenish stocks before next winter. This, according to analysts, can maintain high prices for 2027 year.
At the same time, the situation may change in the long term. New projects in США, Canada and other countries can increase the global supply of СПГ to approximately 630 million tons in 2030 year - almost 60% more than last year.
Under such a scenario, the supply may exceed demand for 55-75 million tons, and prices for СПГ - fall below 6 dollars per million British thermal units.
Recall that 9 October was reported that Європейський Союз risks facing a deficit of up to 14 billion cubic meters of gas due to low reserves in storage and disruptions in energy supplies.
