Netherlands falling behind in filling natural gas reserves

The Netherlands is falling behind other European countries in replenishing its natural gas reserves. The filling level is also a lot lower than it was this time last year, AD reports.

To prepare for a cold winter, the Netherlands’ gas storage facilities must be at least 90 percent full on October 1. The replenishing largely happens in the summer, when demand for gas is low, and prices are often lower.

On July 1, the Netherlands’ natural gas reserves were only 68.5 percent full - over 10 percent lower than in other EU countries and around 11 percent lower than at the same time last year.

It is unclear why the replenishment is going so slowly this year. Natural gas trader GasTerra did not give AD an explanation. “We fill the storage based on various criteria and we continuously monitor,” a spokesperson said. “What exactly [the criteria] are is confidential.” The trader isn’t worried about the filling level. “The summer season is still long.”

Energy expert Martien Visser is more concerned. “We live in uncertain times. All it takes is for something to happen, and we will be in an energy crisis again, with prices going through the roof. It is, therefore, advisable to fill the gas stores as quickly as possible.”

Visser, a lecturer in the energy transition in Groningen and a strategy manager at Gasunie, can only see commercial reasons for not filling the reserves more at this stage. “Gas prices have been relatively high since February. Perhaps GasTerra and other parties hope for lower rates. However, that is not in the interests of BV Nederland.”