EU storage could start heating season 75 percent full, Daniel Kral notes

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Parshwa Turakhiya

01.06.2026

EU storage could start heating season 75 percent full, Daniel Kral notes — EU storage refill slows on gas price

Daniel Kral highlights that the European Union may begin the heating season with gas storage levels at 75 percent, similar to 2021.

He points out that the pace of replenishing storage is intentionally slow because front month gas deliveries are currently more expensive than those for winter, reflecting a state of backwardation in the futures curve. According to Kral, when the futures curve shifts, the pace of storage refill is expected to pick up.

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Kral has previously tracked pressures facing European industry, noting that German industrial output in March was 17.5 percent below end-2017 levels. He has also reported on the allocation of recovery funds, observing that EU governments have directed more RRF spending toward salaries and benefits than direct investment. These factors frame the current focus on gas storage and energy costs heading into winter.

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