Gas storage facilities in Austria are 90.32% full as the country prepares for the colder season, according to a Europe-wide energy organisation.

Brussels-based Gas Infrastructure Europe reports that similar levels have been observed in Italy, Slovakia and Germany.

“The storage facilities are well-stocked across Europe, so we should be able to get through the winter safely,” Carola Millgramm, head of the gas department at Austria’s regulatory authority, E-Control, told Der Standard.

Future gas prices will depend on several factors, including winter temperatures and global demand for the fuel, Millgramm said. This is particularly relevant to demand in Asia and the logistics of loading and unloading liquefied natural gas (LNG) there.

A recent Ukrainian advance into Russia’s Kursk region temporarily triggered a price surge, with European natural gas prices rising to just under €43 per megawatt-hour (MWh) – a level not seen since December 2023. The price has since stabilised.

Uncertainty remains over the transit agreement between Russia and Ukraine, amidst Russia’s ongoing invasion. The contract, which facilitates Russian gas deliveries to the EU, is set to expire at the end of the year, and it remains unclear how this will affect future gas prices.