BERLIN, August 19. /TASS/. Operators of European underground gas storage facilities are injecting gas at a slower pace amid the conflict between the United States and Iran, making it difficult for them to reach target storage levels ahead of the heating season, while reserves could be completely depleted by April 2027, Handelsblatt reported, citing calculations by the specialized Montel portal.

According to its data, to fill underground storage facilities to the target level of 80%, EU countries would need to receive 142 liquefied natural gas (LNG) tankers per month over the next two and a half months. In recent months, European LNG terminals have received an average of 105 tankers per month.

If the pace of purchases remains unchanged, storage facilities will be only 69% full by November 1, in which case they could be depleted by April, when Europe’s heating season ends, the newspaper said. It explained that gas storage operators are private-sector companies and respond to market incentives. Operators typically buy gas in the summer to sell it at a premium in the winter, generating a profit. Amid the US-Iran conflict, which has, among other things, led to a sharp decline in LNG supplies from the Persian Gulf, gas prices remain high. Importers therefore fear that prices could fall if the crisis is resolved, potentially leaving them with losses if they buy gas now.

In addition, Europe has to compete with Asian countries for reduced LNG supplies on the global market. Asian buyers are willing to pay higher prices, enabling them to attract shipments from exporting countries. Under these conditions, increasing imports would require European companies to pay purchase prices twice as high as those available before the start of the US war against Iran, costing them an additional 60 euros per megawatt-hour on average. In that case, the higher electricity and heating costs would ultimately have to be borne by consumers.