European gas reserves hit record low amid unusual cold spell

Lam Anh |

Gazprom warns that the severe cold snap entering Europe next week will prolong the heating season, pushing gas reserves into serious depletion.

According to the latest report from Gazprom, a rare phenomenon has been recorded: Although it has entered the second month of spring, Europe is still in a state of net gas withdrawal from stockpiles. Notably, the daily gas withdrawal volume is currently equivalent to the peak of late February.

According to meteorologists, a wave of extreme cold air about to flood the area will continue to delay the end of this year's warming season.

Data from the European Gas Infrastructure Agency (GIE) as of early April shows that the reserve level at underground storage facilities (UGS) across the continent has decreased to only 27.9%. The situation is particularly alarming in the Netherlands, where the current reserve level is only 4.6%. The depletion of strategic reserves right at the time when recharging should be started puts enormous pressure on the European Union (EU)'s energy stabilization efforts.

The heating season 2025 - 2026 is now officially becoming one of the longest periods since the data began to be recorded in 2011.

To date, the gas outgoing season in the EU has lasted 171 days, only one day away from the record of the 2015-2016 period. If extreme weather continues as predicted, this warming season is completely capable of challenging the 190-day milestone of the 2020-2021 period.

Extending the consumption time of gas for heating purposes is creating a chain reaction effect. The process of refilling storage for next winter is expected to become much more difficult and costly due to fluctuating market prices. The record low reserves in countries like the Netherlands are a warning sign of the risk of energy imbalance if temperatures do not improve soon in the coming weeks.

It is forecast that next week, energy demand in Central Europe will surge due to weather effects. Gazprom affirmed that it will continue to closely monitor gas withdrawal flows to assess long-term impacts on the world gas market.

The prolonged heating season not only threatens energy security but also directly affects the electricity and gas bills of millions of European households in the near future.

Lam Anh
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