Europe’s winter gas storage goal faces risks as competition for LNG supplies intensifies, Equinor’s CEO said.
Europe’s push to refill natural gas storage to 80% ahead of winter may fail, Equinor CEO Anders Opedal said. The warning follows the company’s second-quarter earnings release and underscores growing competition for global LNG supplies.
Current storage levels remain below the target, raising concerns about supply security as demand rises. The 80% goal was set to ensure adequate reserves during peak winter consumption, but delays in procurement and market dynamics threaten progress.
Opedal’s remarks highlight broader challenges in securing energy supplies amid geopolitical tensions and shifting trade flows. No immediate market reaction was specified.