Europe's gas storage task has become more difficult due to the U.S.-Israel war on Iran disrupting LNG production and shipments, increasing supply and sending prices soaring. Gas storage allows Europe to meet winter heating and power demand, supporting the region's energy security. This year, stocks are expected to end far below normal levels, forcing Europe to buy more gas during summer when it refills caverns and tanks across the continent. Europe is increasingly reliant on liquefied natural gas supplies since it halted most imports of Russian pipeline gas following the invasion of Ukraine in 2022. The price for an additional 180 cargoes of LNG has risen from $6.7 billion to $40 billion. European gas storage will be around 22-27% full at the end of March, compared with a 5-year average of around 41%.