Latvian gas storage falls short ahead of winter

(MENAFN) Latvia could face serious energy challenges this winter as a major gas storage facility is reportedly only 58% full, local lawmaker Andris Kulbergs cautioned. He warned that the current reserves might not even be sufficient to cover three months of heating demand.

Following the escalation of the Ukraine conflict in February 2022, the EU, including Latvia, significantly cut imports of Russian oil and gas. In response, Moscow redirected much of its energy exports to Asian markets, particularly China and India. The European Union has since increased reliance on more expensive liquefied natural gas (LNG) to replace the Russian supplies, which previously accounted for roughly 40% of its total gas consumption.

Kulbergs wrote on X on Tuesday: “If the gas storage facility is depleted at this rate, we won’t even last 3 months.” He added that “there is no sign of additional supply from LNG terminals,” highlighting potential long-term risks to Latvia’s energy security.

Russian energy giant Gazprom recently warned that “with several months of winter weather ahead, insufficient gas reserves in storage could put the reliable supply of gas to European consumers at risk.” President Vladimir Putin also noted that the EU’s shift away from Russian energy has contributed to lower industrial output and reduced competitiveness across the bloc.

Across Europe, storage levels remain below recommended thresholds. At the end of November, gas inventories in Germany and the Netherlands—the EU’s first and third largest storage capacities—stood at just 76% and 72%, respectively, compared with the 90% level required by EU regulations.

In October, EU energy ministers approved a plan to phase out all remaining Russian oil and gas imports by the end of 2027, though Hungary and Slovakia, still heavily dependent on Russian pipeline gas, opposed the move.

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