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European gas prices have risen amid growing concerns over unusually low storage levels ahead of winter, as supply disruptions continue and maintenance work constrains Norwegian gas supplies.
On the leading Dutch natural gas futures market, prices rose by as much as 5 percent on Monday before easing slightly to €68.5 per megawatt hour, up around 4 percent, according to The Brussels Times, citing Belgian news agency Belga.
European gas storage facilities are currently around 62 percent full, the lowest level recorded for this time of year since 2009.
There is particular concern about Germany, Europe’s biggest energy consumer, where gas storage is only around half full.
In Belgium, reserves are not yet half full. However, the country’s storage capacity is relatively small, and Belgium is less reliant on winter storage because it has direct gas pipelines to the United Kingdom and Norway, as well as an LNG terminal in Zeebrugge.
