EU faces extra €10bn bill to refill gas stores after cold winter

The EU is expected to spend at least €10 billion more this year to refill gas stores ahead of winter, as reserves were significantly depleted after a cold season. Following the 2022 invasion of Ukraine, the bloc agreed to maintain gas storage at 90% capacity, necessitating an estimated €26 billion to meet this target by November, compared to €16 billion last year. Analysts warn that increased demand from China and the need for higher LNG imports could cause prices to rise, complicating the refilling process amid ongoing market volatility.

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