The European Commission is targeting 80% gas storage capacity bloc-wide by October 1st. Italy also says its natural gas storage is 80% full and should hit 90% by October, while the country has reduced dependence on Russian gas by half. European industry is taking a hit in cases where it can’t switch from natural gas to oil. Norway’s Yara cannot absorb the soaring natural gas prices and has announced it will further cut its ammonia capacity to around one-third. Germany’s sugar industry, on the other hand, has managed a switch from natural gas to oil.

Source: Libya Today August 26, 2022 17:39 UTC