European gas storage levels drop to just 30%

Gas reserves in Europe’s underground storage facilities have fallen to 30%, one of the lowest levels recorded at the end of February, according to Gazprom.

“The level of gas in Europe’s underground storage facilities dropped to 30%, according to Gas Infrastructure Europe data as of February 27. This is one of the lowest figures for the end of February in the history of observations,” the company said.

In particular, storage levels in Germany and France, Europe’s leading economies, are significantly below the European average at 20.6% and 21.4%, respectively, while the Netherlands stands at 10.7%.

“Since the European gas storage withdrawal season usually lasts until the end of March or mid-April, the current situation will significantly complicate the task of replenishing reserves,” the company noted.