The Russian company cautions that, with reserves depleted, stocks might run out before the heating season concludes
Gazprom has reported that the EU withdrew a record amount of gas from underground storage facilities on Christmas Day, warning that low reserves imply supplies could run out prematurely.
As of December 25, Europe had 66.3 billion cubic meters (bcm) of gas in storage, down 9.9 bcm year-on-year, the company said in a Telegram post on Saturday, citing calculations based on Gas Infrastructure Europe (GIE) data. It noted that withdrawals this season are progressing faster than during the previous heating period. Despite the holiday slowdown, when demand usually eases, withdrawals on December 24 and 25 were the highest ever recorded for those dates.
By Christmas Day, German storage sites were at only 59.8% of capacity, a level reached only at the end of January last season. In the Netherlands, reserves dropped to 52.5%. The two countries are Europe’s first- and third-largest consumers by storage capacity.
Gazprom described the situation in the Baltics as particularly “challenging.” Latvia’s Incukalns facility, the region’s sole underground gas storage site, was at just 49.5% of capacity as of December 25.
Last season, such levels were only seen in mid-February. With two winter months still to come, withdrawals could continue well into spring – as they did until mid-April last year – increasing the risk that stocks may be depleted before the heating season ends, the company said.
“Insufficient gas reserves in underground gas storage facilities could pose a significant challenge to reliably supplying gas to consumers,” Gazprom warned.
The EU has significantly reduced imports of Russian energy, which once accounted for around 40% of its consumption, since it imposed sanctions on Moscow following the escalation of the Ukraine conflict in February 2022. Under the EU’s RePower plan, Brussels now aims to completely eliminate Russian energy imports by 2028, but the push has faced resistance from some of the bloc’s members. Hungary has warned that the plan will cause economic damage and lead to higher prices, Slovakia and Austria are seeking exemptions or delays, and industry groups complain that the move will drive up costs and undermine competitiveness.
Moscow has criticized the sanctions as self-inflicted economic harm, pointing to years of price spikes and arguing that the EU is sacrificing affordable energy for political reasons. Russian officials warn that, even if direct imports end, the bloc will be forced to rely on costlier alternatives or indirect supplies via intermediaries.