Gas injection will be tough: Gazprom is worried about gas reserves in Europe

Gas reserves in European storage facilities continue to decline and Gazprom believes that EU countries will have serious difficulties preparing for the next heating season.

"Despite the warm weather in Europe, gas extraction from underground storage facilities continues. According to Gas Infrastructure Europe on March 13, the level of reserves dropped to 29%," Gazprom reports.

The head of the company, Alexey Miller, noted at the same time that in the UGS of the largest gas-consuming countries, the level of reserves is significantly lower than the EU average.

"This is what creates serious difficulties for the upcoming pumping season," the Gazprom board believes.

Thus, the average occupancy rate of UGS facilities in Germany, France and the Netherlands is only 18.1%, the company cites data: "In particular, only 8% of gas reserves remain in storage facilities in the Netherlands — this is the minimum level for March 13 in the entire history of observations."