Europe’s Gas Withdrawals Near 1 Billion Cubic Meters in a Day After Jan. 5–6 Set New Records

Overview

• On January 7, Europe drew roughly 996 million cubic meters from underground storage, the highest in more than a year and just short of 1 bcm, according to Gas Infrastructure Europe.
• January 5 and 6 posted the largest withdrawals ever recorded for those calendar dates, Gazprom reported, citing GIE figures.
• EU storage is 57.18% full, which is about 14.38 percentage points under the five-year norm for this date.
• Germany’s storage level has declined to 50.5%, reflecting brisk drawdowns across major European storage hubs.
• Since the October 13 start of the heating season, countries have withdrawn about 33 bcm with net draw at 28.5 bcm, and January-to-date extractions are approaching a record.