EU's Gas Reserves Diminishing Quickly – Gazprom
According to Russia's energy giant, the bloc has depleting its winter gas supply stored in underground reservoirs. Read Full Article at RT.com.
TroibNews 
According to Russia’s energy giant Gazprom, the EU has already depleted its underground reservoirs as it rapidly taps into gas storage facilities. The bloc’s winter stockpile was fully utilized by January, even though seasonal temperatures were consistent with climate norms.
Prior to the escalation of the Ukraine conflict in 2022, Russian gas exports made up 40% of the EU’s total supply. However, Gazprom significantly reduced its exports to the EU three years ago due to Western sanctions and the sabotage of the Nord Stream pipelines.
Gazprom reported on Monday that the EU has increased its withdrawals from gas storage facilities by 36% this season and by 22% above the ten-year average, according to data from Gas Infrastructure Europe.
By February 28, European underground storage facilities held 39.2 billion cubic meters (bcm) of gas, which is 38.5% of total capacity—24.3 bcm less than the previous year. This season, the EU has withdrawn 58 bcm of gas, representing a 50% increase over the amount injected during the summer.
Gazprom cautioned that this significant drawdown, coupled with a decrease in reliable gas supply sources, creates difficulties for the EU in replenishing its storage sites over the summer and preparing for the upcoming winter.
The EU has been increasingly dependent on more expensive liquefied natural gas (LNG) imports as it seeks to eliminate reliance on cheaper Russian energy. While some EU nations still depend on Russian gas, many have voluntarily ceased imports.
Earlier this year, natural gas prices in the bloc surged to their highest level in two years, driven by a mix of cold weather, dwindling gas reserves, and worries about potential US tariffs on EU imports.
Compounding these challenges, the EU has set binding targets for gas storage, mandating a 90% capacity level by November 1, 2025.
The substantial decline in European gas storage levels presents a serious challenge for governments and energy consumers throughout the region. Western Europe is already importing large volumes of LNG at elevated costs, with EU and UK imports reaching 9.8 million metric tons in January—the highest level since December 2023, according to energy analytics firm Kpler. The US provided 57% of this total supply.
Market experts caution that competition for gas supplies is likely to intensify. US LNG export capacity has not expanded as quickly as anticipated, while demand continues to rise in Asia, Egypt, and other markets.
Jessica Kline contributed to this report for TROIB News
Prior to the escalation of the Ukraine conflict in 2022, Russian gas exports made up 40% of the EU’s total supply. However, Gazprom significantly reduced its exports to the EU three years ago due to Western sanctions and the sabotage of the Nord Stream pipelines.
Gazprom reported on Monday that the EU has increased its withdrawals from gas storage facilities by 36% this season and by 22% above the ten-year average, according to data from Gas Infrastructure Europe.
By February 28, European underground storage facilities held 39.2 billion cubic meters (bcm) of gas, which is 38.5% of total capacity—24.3 bcm less than the previous year. This season, the EU has withdrawn 58 bcm of gas, representing a 50% increase over the amount injected during the summer.
Gazprom cautioned that this significant drawdown, coupled with a decrease in reliable gas supply sources, creates difficulties for the EU in replenishing its storage sites over the summer and preparing for the upcoming winter.
The EU has been increasingly dependent on more expensive liquefied natural gas (LNG) imports as it seeks to eliminate reliance on cheaper Russian energy. While some EU nations still depend on Russian gas, many have voluntarily ceased imports.
Earlier this year, natural gas prices in the bloc surged to their highest level in two years, driven by a mix of cold weather, dwindling gas reserves, and worries about potential US tariffs on EU imports.
Compounding these challenges, the EU has set binding targets for gas storage, mandating a 90% capacity level by November 1, 2025.
The substantial decline in European gas storage levels presents a serious challenge for governments and energy consumers throughout the region. Western Europe is already importing large volumes of LNG at elevated costs, with EU and UK imports reaching 9.8 million metric tons in January—the highest level since December 2023, according to energy analytics firm Kpler. The US provided 57% of this total supply.
Market experts caution that competition for gas supplies is likely to intensify. US LNG export capacity has not expanded as quickly as anticipated, while demand continues to rise in Asia, Egypt, and other markets.
Jessica Kline contributed to this report for TROIB News
