Europe is increasingly reliant on its ability to attract LNG following the loss of Russian gas through Ukraine, as it depletes its gas in storage. The EU’s gas storage was 59 per cent full as of Monday, 15 per cent below the same time last year, according to industry body Gas Infrastructure Europe. Colder weather contributed to a faster withdrawal.

European gas inventories are being used up at the quickest pace since the depths of the energy crisis after Russia's invasion of Ukraine. Could a mooted ban on Russian liquefied natural gas (LNG) make things worse?