08.03.2026 18:14
As the amount of energy in natural gas storage in England rapidly decreases, new data reveals that the country has only about two days' worth of gas supply left.
Natural gas reserves in the UK have fallen to critical levels. According to data published by the gas transmission operator National Gas, the amount of energy in the country's gas storage facilities was 18,000 GWh last year, but this figure has reportedly dropped to 6,700 GWh.
Experts have pointed out that the current stocks could meet the country's natural gas demand for about 1.5 to 2 days. It was also stated that the filling rates of liquefied natural gas (LNG) storage are similarly at limited levels.
GAS PRICES IN THE UK EXCEED EUROPE
Due to limited storage capacity, the UK meets a significant portion of its energy needs from abroad. The country sources a large part of its natural gas from LNG tankers coming from the USA and gas supplied via pipeline from Norway.
Natasha Fielding, the gas pricing manager at commodity data company Argus Media, stated that natural gas prices in the UK have surpassed those in many countries in Europe. According to Fielding, prices in the UK have also outpaced the Dutch gas market, which is considered the reference hub for Europe. This situation is expected to last until the end of May.
CALL FOR NEW STORAGE FACILITIES TO THE GOVERNMENT
In the past, the UK had a natural gas storage capacity of about 12 days, but this capacity has significantly decreased in recent years due to the closure of some facilities. According to National Gas data, the current storage capacity is around 18% of the old levels.
National Gas CEO Jon Butterworth reported to Energy Minister Ed Miliband that three new gas storage facilities or the activation of six large LNG processing ships are needed for the system to operate safely.
MIDDLE EAST TENSION AFFECTS ENERGY MARKETS
On the other hand, energy markets are also affected by tensions in the Middle East. Investment bank Goldman Sachs stated that the magnitude of the energy supply shock occurring in the region could be 17 times greater than the production decline in Russia in 2022.
Bank analysts predict that if the current situation continues, oil prices could rise above $100 next week.