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  • Gas-To-Oil Switch (EU Ahead of Schedule, Storing Gas for the Winter)

    08/16/2022 8:35:53 PM PDT · by BeauBo · 88 replies
    OilPrice.com ^ | Aug 16, 2022 | Alex Kimani
    Now there's a growing sense that Europe might not only meet its gas targets but also exceed them... Injections to Europe’s gas storage are running about nine weeks ahead of last year... European gas storage levels are above 70%, and have even surpassed the 5-year average. By November 1st, the EU will likely hit 80% natural gas storage capacity (its goal) – in time for peak winter demand. Germany is even aiming for 95% capacity, and is already at 75%... Indeed, analysts at Standard Chartered Plc are saying that President Vladimir Putin’s gas weapon will be effectively blunted by the...