European Union hails high natural gas storage levels despite Russian cuts ...Middle East

Natural gas storage levels in the European Union stand at nearly 84 per cent and were higher in December than the average amount in reserve 4-6 years ago, the EU's executive branch said Wednesday, despite Russian attempts to choke off supplies amid its war on Ukraine. Fearing winter shortages, the 27 EU countries began stocking up on gas last year. Joint gas reserve levels climbed to 82 per cent by September, well ahead of an 80 per cent target set for November. Gas consumption also dropped by 20 per cent from August to November as prices spiked. Angered by EU war-related sanctions, Russia tightened its gas taps to Europe last year. Its pipeline gas accounted for 40 per cent of all gas Europ

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