FT reported an increase in the EU's gas reserves costs in 2025


EU countries will have to spend 10 billion euros more in 2025 to fill gas storage facilities after a cold winter. This was reported on May 19 by the Financial Times newspaper.
"The EU will have to spend at least €10 billion more than last year to replenish its gas storage facilities before winter, as the first cold season in four years has led to a significant depletion of reserves," the article says.
After the start of Russia's special military operation in Ukraine, the European Union agreed to fill gas storage facilities by 90% every summer in order to "avoid interruptions during the cold months."
"Europe has entered its first real winter since the outbreak of the conflict in Ukraine," said analyst Ano Kuhanatan. He added that the low-wind weather had a negative impact on renewable energy production, which also led to an increase in gas consumption.
According to experts, it will take about €26 billion to fill the vaults by 90%. In 2024, €16 billion was spent on filling the storage facilities by 99%.
According to Kuhanatan, gas traders are in no hurry to fill the storage facilities, as many of them believe that gas prices will fall further. The analyst warns that attempts to fill the storage facilities at the end of the summer may lead to higher fuel prices.
Bloomberg reported on May 6 that natural gas prices in Europe rose as Asian companies increased purchases of liquefied natural gas (LNG), and seasonal maintenance work led to a reduction in supplies.
On the same day, Reuters reported that the European Commission (EC) would propose banning new gas agreements with Russia and existing spot contracts by the end of 2025. Bloomberg also reported on the EC's plans to publish a roadmap for eliminating imports of Russian fossil fuels by 2027.
Alexey Pushkov, head of the Federation Council's Information policy commission, said on April 14 that the EU's boycott of energy supplies from Russia had long since lost its meaning. He noted that the boycott has already led to a lack of economic growth in Germany, the closure of a number of enterprises and serious financial losses for the whole of Europe.
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