Europe has paid off 90% of its natural gas reserves two months ahead of a November 1 deadline, in a sign that the European Union is “ready for next winter”, the European Commission said, as prices rose. in recent weeks due to geopolitical risks.

Storage capacity is at 90.29% on average, or close to 92 billion cubic meters, according to the latest figures published on Tuesday by Gas Infrastructure Europe (GIE), which includes the European operators of European gas infrastructure .

Following Russia’s invasion of Ukraine and the drastic reduction of Russian flows, the 27 adopted in June 2022 a legislative framework requiring them to collectively reach 90% of European stockpiles by November 1 each year with the aim of strengthening energy autonomy and limiting dependence on Russian natural gas.

This dependence has been significantly reduced since February 2022 and the start of the Russian invasion of Ukraine also due to the shift to ship-borne liquefied natural gas, mainly from the United States, and Norway’s strengthening of pipeline gas supply, even if Russia continues to supply Europe with gas through Ukraine.

“The storage of natural gas is critical for Europe’s energy security, allowing up to a third of the demand to be covered during the winter,” the Commission reminds.

“This means that the European Union is ready for the coming winter,” said the European Commissioner for Energy Country Simson, giving the assurance that the European Commission will continue to monitor the situation so that natural gas storage levels remain sufficiently high in the coming months. .

In this way, Europe will be able to “continue to focus on improving energy efficiency and accelerating the development of renewable energy sources,” he said.

The European commissioner underlined that the situation is “much more difficult in Ukraine, where the energy sector receives the heavy and continuous attacks of Russia”.

“Europe must continue to support Ukraine and provide the necessary assistance for its energy system so that the Ukrainian population can also safely get through the difficult winter ahead.”