07.03.2026 21:17
After Russian President Vladimir Putin stated that he could completely withdraw from the European gas market and instructed the government to take necessary actions to halt gas shipments, a striking statement came from the Russian energy company Gazprom. The company warned that the filling rate of natural gas storage facilities in Europe has fallen below 30% and that all the gas filled in preparation for winter will be depleted by mid-February.
The Russian energy company Gazprom warned that the filling rate of natural gas storage facilities in Europe has fallen below 30% and that all the gas filled for winter preparation was exhausted by mid-February.
"ALL GAS PUMPED INTO EUROPEAN STORAGE WAS WITHDRAWN BY MID-FEBRUARY"
A written statement from Gazprom indicated that Europe is rapidly consuming its natural gas reserves. The statement pointed out that the filling rate of underground storage in the Netherlands has fallen below 10%, stating, "The overall filling rate in Europe has dropped below 30%. All gas pumped into European storage for winter preparation was withdrawn by mid-February. Currently, withdrawals are being made from the stocks of previous years."
WAS EUROPE'S LARGEST NATURAL GAS SUPPLIER
Before the Ukraine war, Gazprom was Europe's largest natural gas supplier, having increased its market share on the continent to 40% by 2022 through nearly 50 years of pipeline investments. Due to sanctions, Gazprom lost its customers to liquefied natural gas (LNG) suppliers such as the USA, Qatar, and Norway, and while it is expected to supply about 15 billion cubic meters of natural gas to Europe in 2024, this volume was 201.7 billion cubic meters in 2021.
PUTIN HAD GIVEN INSTRUCTIONS, VALVES HAD BEEN CLOSED
Russian President Vladimir Putin stated that Moscow could completely withdraw from the European gas market and instructed the government to take the necessary steps to completely halt gas shipments to the European Union (EU). The EU Council had approved a decision to completely stop the import of natural gas and LNG from Russia via pipelines next year.
After Putin's instructions, Russian Deputy Prime Minister Aleksandr Novak stated, "We have decided to redirect some of the liquefied natural gas (LNG) supplied to Europe to other markets where we can establish constructive relationships and sign long-term contracts."
Novak pointed out that Russian companies have started talks with the relevant countries, saying, "Our companies are evaluating opportunities with other countries such as India, Thailand, the Philippines, and China to sign new long-term contracts without waiting for new restrictions from Europe."