Russia is slowing natural-gas imports to Europe as it prepares for a harsh winter. Storage issues could be a problem.
Europe's storage capacity problem is highlighted by a situation currently brewing in Spain.
Energy data provider Kpler told Insider that seven ships are in the Bay of Cadiz waiting to be unloaded at the Huelva terminal.
According to VesselsValue, one of the ships has been waiting in the bay for over three weeks.
Enagas said in a statement that there was a mismatch between demand and supply.
The statement said that there were very high levels of stocks at all of its terminals and that this was expected to impact operations at least until the first week of November.
A person familiar with the situation told Insider that all the ships that have booked slots to unload will be able to do so.
The ships are being discussed in the energy circles.
The largest network of regasification terminals in Europe is located in Spain. He said that if Spain is reaching its maximum capacity, so could the rest of Europe, even though there aren't a lot of ships in Europe right now.
In the first two years of the new century, Europe has imported 25% more gas than it has imported in the entire year.
In its Monday statement, Enagas stated that the supply-demand mismatch is not isolated from the Spanish gas system.
Enagas did not respond to the story.
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