EU Gas Market Report – April 2026: Low Storage Levels, LNG Disruptions, and Heightened Geopolitical Risks

More than 13% of EU's gas imports came from Russia! (with 7 Charts)

As of 30 April 2026, European gas inventories have modestly rebounded to around 32.7% of total storage capacity, up from 27.7% at the end of March. This marks the beginning of the injection season. Nevertheless, the level remains the lowest for late April since 2022 and sits significantly below the five-year average (2021–2025), as shown in Figure 1. The main factor behind the slow pace of injections is the continued shortfall in LNG inflows, driven by ongoing geopolitical tensions in the Middle East and disruptions to LNG shipping through the Strait of Hormuz (SOH).