# Global risks to the EU natural gas market

> An ECB Economic Bulletin box says Russian gas deliveries to the EU fell to about 20% of pre-war levels by late 2022. It warns that replenishing EU storage before winter 2023-24 will be harder because the EU now relies on global LNG, which leaves it exposed to Chinese demand swings.

- Date: 2023-02-14 · published 2023-02-14T12:00:00.000Z
- Category: geopolitics · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/37517-global-risks-to-the-eu-natural-gas-market
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Heavy reliance on competitive LNG markets and a storage refill challenge point to higher gas prices and tighter supply, which raises input costs for European fertilizer and feed production.

## Read by commodity

- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2024-12-30 | [Global Natural Gas Prices Mixed as Market Tracks Tightening Supplies — LNG Recap](https://feedsoft.ai/events/27150-global-natural-gas-prices-mixed-as-market-tracks-tightening-supplies-lng-recap.md) | +20.6% | +7.4% |
| NATGAS | 2026-04-24 | [IEA says Iran war will keep the global natural gas market tight for two years - CBS News](https://feedsoft.ai/events/19909-iea-says-iran-war-will-keep-the-global-natural-gas-market-tight-for-two-years.md) | +2.7% | +17.0% |
| NATGAS | 2021-06-30 | [FEATURE: All eyes on Europe's tight gas market going into Q3 \| S&P Global](https://feedsoft.ai/events/46766-feature-all-eyes-on-europe-s-tight-gas-market-going-into-q3-s-and-p-global.md) | -1.7% | +10.4% |
| NATGAS | 2022-02-24 | [European ethanol margins hammered by natural gas rise](https://feedsoft.ai/events/42709-european-ethanol-margins-hammered-by-natural-gas-rise.md) | +2.2% | +13.9% |
| NATGAS | 2025-08-25 | [Global Natural Gas Prices Rebound as Market Dismisses Ukraine Peace Prospects — LNG Recap](https://feedsoft.ai/events/23525-global-natural-gas-prices-rebound-as-market-dismisses-ukraine-peace-prospects.md) | +7.7% | +4.5% |

## Sources

- ecb.europa.eu: https://www.ecb.europa.eu/press/economic-bulletin/focus/2023/html/ecb.ebbox202301_01~6395aa7fc0.en.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.