BAKU, Azerbaijan, January 18. The Gas Exporting Countries Forum (GECF) has reported that EU countries are steadily withdrawing from their gas reserves as the winter season progresses, Trend reports.
In December 2024, the average daily volume of gas in underground storage dropped to 81.9 bcm, down from 95.2 bcm in November. Regional storage levels averaged 79% for the month, marking a decrease of 11 bcm compared to December 2023 and 1.5 bcm below the five-year average for the same period.
Net gas withdrawals reached 13.9 bcm in December, surpassing both the 9.3 bcm recorded in December 2023 and the five-year monthly average of 10.7 bcm. Since the beginning of winter, EU countries have withdrawn a cumulative 24.1 bcm, the highest rate of depletion since the winter of 2017/18.
By the end of December, storage levels in major gas-consuming countries like Germany, Italy, and Austria hovered around 80%. LNG stocks in the EU also experienced a significant decline, falling to 2.4 bcm—23% lower year-on-year and 16% below the five-year average.
In light of these trends, the European Commission has introduced stricter storage targets for 2025. The new benchmark requires regional storage levels to reach 49% by February 1, 2025, compared to the 45% target set for the same date in 2024.