According to information from TASS, Gazprom General Director Alexey Miller said that Europe is entering a sensitive phase before the new gas storage season, when current reserves are significantly lower than the EU average.
Currently, although temperatures in many European regions are quite mild, countries continue to withdraw gas from underground storage facilities to serve consumption demand. This has reduced the total amount of gas in the region's storage facilities to about 29%.
According to Mr. Alexey Miller, the problem is not only in the common reserve level but also in the imbalance between major consuming countries. In countries with the highest gas demand, the amount of gas in storage is currently significantly lower than the average of the entire EU bloc.
Notably, reserves in 3 major economies including Germany, France and the Netherlands are currently only filled at 18.1% capacity. This is considered a low level for mid-March - a period when reserves usually still have significant gas after the winter.
The situation is particularly worrying in the Netherlands, where reserves are only 8% of capacity as of March 13. According to Gazprom, this is the lowest level ever recorded at this time of year.
Observers believe that low reserves may put great pressure on the EU's energy strategy in the coming months. Usually, European countries will start accelerating gas pumping into storage from spring and summer to prepare for the next winter. However, when the starting point is too low, the bloc may have to buy much larger volumes of gas in the international market.
This also means the risk of fiercer competition in the global gas market, especially when demand from Asia remains high. If gas prices rise again, European economies may face higher energy costs, leading to inflationary pressure.
The warning from Gazprom was issued in the context of the world energy market still fluctuating strongly after years of geopolitical tensions and changes in gas trade flows, especially in the context of the escalating Iranian war, which further strangled oil and gas supplies.
According to energy experts, this year's gas storage season could become a major test for EU energy security, as low reserves force the region to act faster and more drastically to fill stockpiles before winter returns.
