Latvia gas storage near half empty ahead winter

Latvia’s primary gas storage facility is facing a significant shortfall, with stocks at only 58 % of capacity ahead of the winter heating season, according to local lawmaker Andris Kulbergs. The MP warned that the current reserves may not be sufficient to last the Baltic nation for three months, sparking concerns over energy security.

The European Union, of which Latvia is a member, has drastically reduced its imports of Russian oil and gas since the escalation of the Ukraine conflict in February 2022. As a result, the EU has become increasingly reliant on more expensive liquefied natural gas (LNG) imports to replace Russian gas, which previously accounted for approximately 40 % of the bloc’s total consumption. Kulbergs expressed concern that the current rate of depletion could lead to a severe shortage, stating that “there is no sign of additional supply from LNG terminals.” The low storage levels at the Conexus Inčukalns facility could have long‑term adverse effects on Latvia’s energy security, he cautioned.

This issue is not unique to Latvia. Russian energy giant Gazprom warned last month that insufficient gas reserves in storage could jeopardise the reliable supply of gas to European consumers. Russian President Vladimir Putin has also said that the EU’s decision to source its energy elsewhere has resulted in lower industrial production and reduced competitiveness across the bloc.

In Germany and the Netherlands, Europe’s first and third largest consumers by storage capacity, gas inventories stood at 76 % and 72 %, respectively, at the end of November—below the 90 % level mandated by EU regulations. EU energy ministers have backed a proposal to completely phase out remaining Russian oil and gas imports by the end of 2027, although Hungary and Slovakia, which are heavily reliant on Russian pipeline gas, have opposed the plan.

The situation highlights ongoing energy‑security concerns in Europe as the continent heads into the winter months. While the EU’s efforts to reduce reliance on Russian energy have led to increased LNG imports, the bloc still faces challenges in ensuring a stable and sufficient energy supply. How the EU will address these concerns and meet the needs of its member states remains to be seen.