In mid-August, Spain achieved full capacity in its gas storage facilities for the first time. Energy companies, leveraging the summer lull to advance the filling of three national underground reservoirs, capitalized on the European Union strategy to reduce dependence on Russia. Since then, Spanish reserves have stayed at 100 percent for five consecutive months. As autumn gave way to cooler weather, storage levels gradually declined with the drop in temperatures, though this year has been milder across much of Europe.
In December alone, Spain consumed around 10 percent of the gas that was stored in its warehouses. The reserves slipped beneath the 90 percent mark for the first time in eight months on a recent weekend, a level not seen since the early days of May, and well ahead of the EU-imposed targets. The shift marks a notable milestone in the country’s ongoing effort to maintain secure supply during a period of European energy concerns. [Citation: EU energy policy brief, 2024]
Since Russia’s invasion of Ukraine, the European Commission and the Twenty-Seven have worked to implement safeguards against volatile energy markets. A central pillar of the strategy is the obligation for member states to keep substantial volumes in storage to guarantee continuous supply in the event of shocks. The plan for this year set minimum reserve volumes at specific times, with the long-term aim of reaching 90 percent storage capacity by November 1. Spain achieved that target six months ahead of schedule and became the first European country to operate fully at 100 percent capacity in its warehouses. [Citation: European Energy Outlook, 2024]
before the cold weather
Looking ahead to the onset of colder conditions, expectations point to higher gas usage as households turn up heating and businesses adjust to the seasonal demand. Internal records from Enagás, the operator of Spain’s gas system, indicate that the equivalent of about 30,660 gigawatt hours of gas could be added to storage this Thursday. These figures have yet to be independently confirmed by the gas infrastructure association GIE, but they are being tracked by the national operators alongside the broader European network. [Citation: Enagás operations data, 2024]
Beyond the three underground storage sites, Spain maintains a substantial network of regasification facilities that convert imported LNG into usable gas. This network accounts for a sizable portion of the EU’s regasification capacity. Official Enagás documentation indicates that these plants are currently operating at about half of their available capacity, with a total potential of 12,700 GWh. The evolution of this capacity aligns with Spain’s broader strategy to diversify sources and ensure reliability through the winter season. A notable development last year was the commissioning of the El Musel regasification and storage complex in Asturias, which expanded Spain’s logistical storage and supply capabilities. [Citation: Enagás annual report, 2023-2024]