Europe is beginning to stock up on gas for next winter, which is projected to result in a further decline in Russian supply while we wait to see what Ukraine will do after its contract with Gazprom expires at the end of 2024. The grounds for a cold season without many hazards are favorable: in reality, the depots begin with a high level of filling, as indicated by GIE (Gas Infrastructure Europe) data. The European average for storage is 58.7%, a record for this time of year, while Italy experienced a modest increase, resulting in a filling of 58.2% on March 31. It was predicted that the level would remain significantly above 50% until the conclusion of the previous winter, thereby "assisting in mitigating the volatility of gas prices and streamlining the storage season". As part of the agreements struck by the European Commission with member countries following Russia's invasion of Ukraine, gas storage stations must be 90% full by November 1. Scrolling through the GIE data, even larger percentages are discovered in Austria (73.5%), Germany (64.4%), and, most notably, Spain and Portugal (81.4% and 86.3%, respectively). France is further behind at 37.5%, with nuclear power plants providing supply stability.
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