Dutch Gas Storage Falls to Lowest Level in Decade

Gas storage levels in the Netherlands dropped to their lowest point in at least a decade, raising concerns over Europe’s energy security ahead of the next winter season.

According to the Dutch gas infrastructure company Gasunie, storage facilities were filled to just 5.8% of total capacity as of Tuesday, marking a sharp decline and placing the country well below European averages.

The company attributed the drop to a combination of constrained supply and volatile market conditions. Reduced gas flows linked to tensions in the Middle East, alongside a sharp increase in prices, have created significant uncertainty over how quickly inventories can be replenished during the summer months.

Gasunie warned that current price levels are discouraging companies from purchasing and storing gas, as high costs undermine the profitability of storage operations.

The Netherlands now holds the lowest gas storage levels in the European Union, far behind the bloc’s average of approximately 28%, according to data from Gas Infrastructure Europe.

The widening gap has intensified pressure on policymakers to act preemptively. Last week, EU Energy Commissioner Dan Jørgensen urged member states to begin refilling reserves earlier than usual ahead of winter.

Jørgensen also suggested revisiting the bloc’s storage targets, proposing a reduction from the current 90% benchmark to 80%, in an effort to prevent further price spikes in an already strained market.

Despite the sharp decline in storage, Gasunie emphasized that there are no immediate risks to supply, citing stable flows of liquefied natural gas (LNG) and the conclusion of the winter demand season.

However, the company cautioned that storage levels are expected to continue declining in the coming weeks before the refill season begins in April.

Industry forecasts suggest that two major storage facilities could be fully depleted by the end of the month, reflecting the pace of withdrawals and limited replenishment.

The situation has been further complicated by reduced activity from GasTerra following the shutdown of production at the Groningen gas field, once one of Europe’s largest sources of natural gas.

In response, the Dutch government has tasked state-owned energy company EBN with stepping in if market mechanisms fail to restore storage levels. Authorities have already announced financial support measures totaling €21.6 billion to ensure adequate reserves are secured ahead of winter.