Europe’s underground storage reserves have dipped below the 80 percent mark as ongoing cold weather tightens supply. This update comes from TASS, noting that cooler conditions weigh on inventories and prompt closer monitoring of storage levels across the continent.
Simultaneously, gas flows to Europe show a modest uptick in LNG deliveries as temperatures fall. Gas Infrastructure Europe reports that on January 13, withdrawals from European underground storage reached 521 million cubic meters, while injections stood at 63 million cubic meters, underscoring a seasonal pattern of drawing down stocks while seeking to replenish through gas imports over the heating season. Since November 7, when the heating season began, European Union countries have drawn roughly 24.8 billion cubic meters from storage, illustrating the persistent demand for reliable energy during winter months.
Current data place the occupancy rate of European underground storage around 79.72 percent, which is about 11.58 percentage points above the five-year average. Open storage capacity holds approximately 87.85 billion cubic meters of gas, reflecting a robust cushion against sudden demand spikes but still facing the pressures of colder weather and fluctuating supply routes.
Gazprom continues to supply roughly 40.5 million cubic meters of gas each day to Europe via the Sudzha crossing, a transit point through Ukraine. This route remains a critical export artery in the wake of damage to the Nord Stream pipelines, shaping both the geography of gas flows and the security considerations of the European energy market. The daily flow through Sudzha represents a steady, albeit smaller, channel for gas deliveries at a time when Europe seeks to diversify supplies and secure long-term contracts with various suppliers.
Meanwhile, the European gas market has seen shifts in price sentiment. The TTF benchmark price in January hovered around $360 per thousand cubic meters, down from approximately $408 per thousand cubic meters in December. This price movement reflects a combination of seasonal demand, supply configurations, and broader energy market dynamics that influence pricing, trading strategies, and consumer bills across EU economies.
Historically, Gazprom has been a major supplier to the region. Recent developments indicate a change in the pattern of fuel passage, with previous expectations of uninterrupted deliveries encountering new constraints. Analysts and market observers continue to track these dynamics as Europe reinforces its energy security posture through diversification, storage management, and cross-border gas swaps and exchanges. Ongoing reporting from industry observers and authorities highlights how the interplay of storage commitments, imports, and transit routes shapes the continent’s gas resilience in winter conditions, alongside efforts to monitor and respond to evolving geopolitical and market signals. The overall picture emphasizes the importance of reliable storage, diversified import channels, and prudent price governance as Europe navigates a period of variable supply and demand. (TASS) (Gas Infrastructure Europe) (European energy market updates)