Europe’s gas reserves fall below 40% amid winter withdrawals

Europe’s underground gas storage levels have dropped below 40%, according to data from Gas Infrastructure Europe (GIE).

On February 2, withdrawals from storage facilities reached around 742 million cubic metres, marking the third-highest daily extraction for February to date, Caliber.Az reports via Gas Infrastructure Europe (GIE).

Overall, Europe’s gas storage now holds roughly 44 billion cubic metres of fuel.

Temperatures across the continent have been uneven this week. While the first half of the week was relatively cold, a warming trend is expected towards the weekend.

Renewable energy continues to play a role in the European power mix. Wind generation accounted for an average of 20% of electricity production in December 2025 and 19% in January 2026. Meanwhile, the average price of gas purchases in Europe rose to $415 per 1,000 cubic metres in January, up from $334 in December, following colder weather.

Last winter’s withdrawal season concluded on March 28, 2025, with storage levels at 33.57%. Currently, European storage facilities are filled to 39.86%, 16.2 percentage points below the five-year average for this date and down from 52.6% a year ago.

Since the start of the heating season on October 13, EU countries have withdrawn around 52.5 billion cubic metres from storage. Net withdrawals — the difference between gas taken out and gas injected over the summer — have reached over 47.5 billion cubic metres, equivalent to 87% of summer injections. 

By the 113th day since peak storage levels were reached, total withdrawals are 1% higher than the five-year average for the same point in the season.

By Aghakazim Guliyev