While those deals offer a long-term boost, they likely will have little impact on the crucial winter supplies that will be decided in the next several months. But there's a long way to go — Russia sent 155 billion cubic meters of natural gas to Europe annually before the war. The EU's executive commission has proposed conservation, renewable development and other measures to reach that goal, with Germany and other countries heavily dependent on Russian gas opposing calls for an immediate gas cutoff. Europe’s collective gas storage level is 37%, an improvement of 5% over the same time last year. High gas prices are fueling inflation and gradually hit utility bills.

Source: ABC News May 18, 2022 18:34 UTC