Unprecedented Decline in Dutch Gas Reserves / Europe on the Brink of an Energy Crisis

According to TASS, the Netherlands, one of Europe’s leaders in gas storage capacity, has seen its reserves fall below 15%.

Gas reserves in the Netherlands’ underground storage facilities (UGS) have dropped to 14.91%, setting a new mid-February record.

Meanwhile, other European countries are also consuming a significant portion of their stored fuel.

Germany’s gas reserves stand at 23.5% of capacity, Austria at 39.5%, and France at 24%.

According to the report, reserves are at 50.9% in Italy, 33.3% in Slovakia, 39% in Hungary, and 36.9% in the Czech Republic.

Romania has filled 41.9% of its storage capacity, Bulgaria 46.8%, Belgium 24.7%, and Denmark 30.3%.

Latvia’s reserves have fallen to 22.5%, and Croatia’s to 15.2%, indicating increased use of accumulated fuel across Europe.

The rapid decline in gas reserves in the Netherlands and other European countries could place additional pressure on the continent’s energy market and lead to gas price volatility.

Experts warn that the continuation of this trend during the winter months and early spring will require careful energy management and storage policies by European countries. / Tasnim