BancaMarch: The European Union ends the winter season with record levels of gas storage. Gas stocks in March recorded values of up to 58.72% of storage capacity, 3 p.p. higher than the previous peak, which took place last year.
The energy crisis is behind us. Despite the reduction in Russian gas supplies, the mild winter and the targets set by the EU to reduce gas use have contributed to this scenario. If we compare the average demand between 2019 and 2021 for the month of February, this year it was one fifth lower. Concerns in the previous year included the possibility of low reserves, however, the problem today has shifted to filling too early. At these levels, the EU target of reaching 90% capacity in early November would be reached in August if 2023 inflows were maintained.
