The gas reserve level in underground storage facilities across Europe has fallen below 78 percent as unusually cold weather tighten demand, a trend reported by the Russian news agency TASS. Analysts note that this reserve drawdown adds pressure to market participants who already watch weather patterns closely and monitor the evolving balance between supply and demand in the European system.
Meanwhile, European gas prices in foreign exchange terms edged higher on Thursday morning. By 10:07 Moscow time, February futures at the Title Transfer Facility center in the Netherlands traded near 320 dollars per thousand cubic meters, according to trading data from ICE Futures. The move reflected a modest gain as markets digested the latest supply and storage headlines and reassessed near term risk factors affecting European gas balance.
On January 18, Gazprom delivered 42.4 million cubic meters of gas via the Ukrainian Sudzha entry point, following a continued rejection of the Sokhranivka GIS application. In the wake of the Nord Stream incident, Sudzha has become a critical conduit for forwarding Russian gas to Western and Central Europe, underscoring the region’s reliance on multiple transit routes and the ongoing vulnerabilities in the European gas corridor.
Last week, Gazprom announced a new daily record in gas deliveries within Russia, highlighting intensified domestic supply activity amid shifting export dynamics and regional demand patterns.
Earlier reports indicated that Qatar halted the transit of fuel toward Europe in response to tensions in the Red Sea corridor, a move that adds another layer of complexity to a market already sensitive to geopolitical developments and cross-border logistics.
Previously reported maritime shipments of Russian oil were not affected by Houthi attacks, a reminder that energy markets continue to separate some crude and gas supply channels despite regional security developments and the broader geopolitical backdrop impacting shipping lanes and insurance costs.