The Netherlands is on course to fall short of its winter gas storage target, according to state-owned network operator Gasunie, which warned that current market conditions have made it unprofitable for companies to inject gas into storage. The company said the country will not reach the 115 terawatt-hours (TWh) target set for 1 November — a volume equivalent to roughly half of Dutch annual consumption.
That national goal is more ambitious than the European Union's requirement for member states to fill storage to 74% of capacity. Dutch news outlet NL Times reported that both targets are now out of reach. The national figure was designed to cover the most severe winter in the past three decades.
Gasunie stressed that missing the target does not automatically mean shortages this winter, but it acknowledged that without additional policy measures, the Netherlands would be insufficiently prepared for an exceptionally cold season. “Based on the latest developments, the Netherlands will no longer achieve the previously set filling target for this winter,” the company said in a statement.
Market and geopolitical pressures
The core problem is an inverted price curve: summer gas prices are higher than expected winter prices, making it economically irrational for energy firms to buy gas now and store it for later sale. European benchmark gas prices traded near €64 per megawatt-hour on Wednesday, more than double their level at the start of the year. Prices have spiked in recent days on concerns that the Strait of Hormuz could remain closed into the winter, delaying Qatari liquefied natural gas (LNG) shipments. Although reports of progress in Middle East talks eased some supply worries on Wednesday, the blockade continues to disrupt deliveries.
Gasunie said it is “currently assessing how we can maintain the gas supply as robustly as possible in these changed geopolitical and market conditions and prevent unnecessary pressure on the gas market and, consequently, on prices.”
Heatwaves have added a separate strain. Record summer temperatures have driven up electricity demand for air conditioning, while drought has curbed output from hydropower and nuclear plants. Utilities have therefore burned more gas for power generation, leaving less available to inject into storage during the very months when Europe is supposed to be rebuilding stocks for winter.
Storage levels lag behind EU peers
Dutch storage facilities were only 44.26% full on 23 August, compared with the national target of roughly 80% by 1 November. That was the lowest fill level among EU countries for which data were available that day. A spokesperson for the Dutch Ministry of Climate and Green Growth told Euronews Business that across Europe, companies are filling storage only to a limited extent because it is currently not economically viable. “The European Commission has therefore previously advised member states to lower the (EU) filling targets to prevent gas prices from being driven up unnecessarily,” they said.
The Dutch government has authorised state-owned Energie Beheer Nederland (EBN) to store up to 80 TWh of gas when commercial companies fall short, a programme the ministry says is on schedule. Gasunie confirmed that EBN is carrying out its role properly but said storage facilities are still filling too slowly. The company has previously raised these concerns with the ministry.
Gasunie said it will continue to monitor developments and keep the ministry informed, but stressed that decisions on further support rest with the government. “Ultimately, it is up to the minister to make policy decisions based on the advice received and current developments,” the company said.
Despite the warnings, the ministry said it does not expect a shortage. “The government is confident that there will be sufficient gas for the winter and continues to monitor the situation closely,” the spokesperson said.
The situation in the Netherlands reflects broader European vulnerabilities. As Europe faces a winter gas crunch, other countries are also struggling to fill storage ahead of the cold season. The combination of high prices, geopolitical instability, and climate-related disruptions has made the continent's energy security more fragile than in recent years.
