EU faces risk of gas shortages as storage levels fall
As of January 4, European underground gas facilities were reportedly at 59.9% capacity—a level typically seen only at the end of January last year. Gazprom noted that current reserves are approximately 13% lower than the five-year average for early January.
The steepest reductions have occurred in key storage hubs, including Germany and the Netherlands, the EU’s first- and third-largest storage consumers. Dutch reserves have fallen to 46.1%, while German facilities are at 54.1% capacity.
Since the start of the heating season, 23.6 billion cubic meters of gas—nearly half of what was injected before winter—has already been withdrawn from EU storage sites.
The company also cautioned that this season’s withdrawals are surpassing the pace of the previous heating period. Even during the holiday period, the volume of gas removed on December 24 and 25 reached record highs for those dates.
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