Europe’s Gas Withdrawals Triple Five-Year Average as Winter Begins

With the onset of winter in Europe, gas withdrawals from the continent’s underground storage have surged to unprecedented levels. According to data from the European Gas Infrastructure Organization and calculations by TASS news agency, nearly three billion cubic meters of gas were withdrawn over the past ten days, with net withdrawals exceeding two billion cubic meters.

This volume is more than three times the average withdrawals during the same period over the past five years, highlighting the intense pressure on Europe’s gas resources. During this period, European countries have consumed around five percent of the 51.2 billion cubic meters of gas they stored over the summer for the winter season.

Europe’s gas storage level reached 72.98 percent of capacity by November 6, which is 16.63 percent lower than the five-year average and represents the lowest storage level on this date since 2011. Additionally, gas storage in the European Union is estimated at approximately 80 billion cubic meters, 11.6 billion cubic meters less than last year.

The European Commission had previously urged member states to raise their gas storage to 90 percent capacity by December 1. However, due to forecasts of a milder winter, this target has been adjusted down to 80 percent.