According to Gazprom’s estimate, during the 2026–2027 heating season, gas prices in the EU could surge to $2,500 per 1,000 cubic meters if the winter is cold. Insufficient levels of underground gas storage capacity could cause this increase. For example, in Germany—the EU’s largest gas consumer—storage facilities are currently only 61.6% full. Meanwhile, fuel prices have already risen 3.5-fold since the beginning of the year.