Europe's Daily LNG Imports Hit 23-Month Low in July 2026
Europe's daily liquefied natural gas (LNG) imports fell to a 23-month low in July 2026, according to TASS calculations based on data from Gas Infrastructure Europe (GIE). A TASS report from July 28 noted that on July 26, daily imports totaled just 212 million cubic meters, the lowest since August 2024. Another TASS report from July 21 cited July 19 figures of 226 million cubic meters as the lowest since September 2024. Both reports agree that the decline has been steep since the start of July, with one putting the fall at 27% year-on-year and the other at 26%.
The reports point to a combination of factors, including a heatwave and the need to replenish depleted underground storage (UGS) facilities. One account cites a "lost battle" with Asia for uncommitted LNG volumes during the Middle East conflict, along with higher fuel prices and extreme heat in June and July, which increased electricity demand for cooling. The other highlights the heatwave and the urgency of filling storage ahead of winter, but does not detail the cause of the import slump.
Storage levels are also below normal. As of late July, European UGS facilities were 55.66% full, according to one report, while another says 54% full. Both say this is roughly 15-16 percentage points below the five-year average for the date. The actual volume of gas in storage is approximately 60.8 billion cubic meters, down 12.5 billion from last year, or 59 billion cubic meters, down 12 billion, depending on the report.
Looking ahead, Russian gas giant Gazprom has predicted that European UGS inventories may not reach even 75% capacity by the start of the heating season. This would leave Europe more vulnerable to supply disruptions and price spikes during the colder months, according to the reports.