The Netherlands enters winter with low gas reserves, warns Gasunie

**The Netherlands heads into winter with gas storage at roughly 44 % of capacity, Gasunie says**

*Amsterdam, 29 August 2024* – The Dutch gas transmission system operator Gasunie warned on Thursday that the country will not reach its gas‑storage target for the upcoming winter season. According to the company, storage facilities were about 44 % full as of 24 August, well below the 80 % level (115 TWh) that the government had aimed to achieve.

The shortfall represents a decline from 63 % at the same point last year and 94 % three years ago. The European Union’s winter‑storage benchmark of 74 % is also expected to be missed, Gasunie said in a statement to the Dutch news outlet NU.nl.

**Supply outlook**

Despite the low fill rate, Gasunie stressed that the Netherlands should still have enough gas to meet winter demand. The country continues to receive gas via pipelines from Norway, through liquefied natural gas (LNG) terminals, and from a number of small domestic fields.

Energiebeheer Nederland (EBN), the agency tasked with filling the storage facilities on behalf of the government, reported that it has been “filling up gas reserves steadily.” René Peters, an expert at the research institute TNO, told NU.nl that under “normal circumstances” he was “not extremely worried about the amount of gas in the gas storage.” He added that the risk would increase if several adverse events – such as prolonged severe cold, pipeline failures, or problems at LNG terminals – were to occur simultaneously.

**Impact on households**

The low storage levels come as gas prices have risen to their highest point in two years, a trend attributed by analysts to geopolitical tensions in the Middle East. Florence Schmit, an energy‑market analyst at Rabobank, told RTL Nieuws that the reliance on LNG makes the market more vulnerable to price spikes. She expects elevated gas prices to persist for the next three to four months, with a possible decline only in early 2027, citing ongoing disruptions in the Strait of Hormuz.

Higher wholesale gas costs are likely to be passed on to consumers. Schmit noted that households with variable or dynamic energy contracts will feel the impact most acutely. According to recent estimates, more than half a million Dutch households are already in energy poverty, each lacking roughly €600 to cover their energy bills.

**Government response**

The Dutch government has previously warned that gas reserves were being filled too slowly and indicated that additional measures might be needed if a particularly harsh winter materialises. No specific policy actions have been announced as of this writing.

*The article is based on statements from Gasunie, NU.nl, RTL Nieuws, and comments from industry experts René Peters (TNO) and Florence Schmit (Rabobank).*

Article and image source: iamexpat.nl