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Concerning Statement from Gazprom for Europe

Gazprom claimed that Europe will face difficulties in filling underground storage facilities next summer. The Russian energy company Gazprom suggested that Europe is facing a decrease in reliable natural gas suppliers and will struggle to fill underground storage facilities next summer. The statement from Gazprom included evaluations of developments in the European natural gas sector. The statement indicated that European countries are rapidly depleting the natural gas in underground storage facilities, with 34.3 billion cubic meters of gas left in these storage facilities as of March 31. The statement also mentioned that gas withdrawals from storage facilities in Europe have reached a record level, despite temperatures remaining within seasonal norms. The statement conveyed that Europe will start the storage filling period with a significant amount of empty storage facilities, noting that “Given the decrease in reliable gas sources, Europe will struggle to fill underground storage facilities this summer and prepare for the coming winter.” Before the Ukraine war, Gazprom was Europe’s largest natural gas supplier, increasing its market share on the continent to up to 40% by 2022 through nearly 50 years of pipeline investments. Due to sanctions, Gazprom lost customers to liquefied natural gas (LNG) suppliers like the US, Qatar, and Norway, while it shipped approximately 15 billion cubic meters of natural gas to Europe last year, a volume that stood at 201.7 billion cubic meters in 2021.

Concerning Statement from Gazprom for Europe

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