EU countries are in a hurry to stockpile enough natural gas for the winter. The EU has 160 storage facilities for more than 100 billion gallons of gas. This is a quarter of the total consumption. Germany, France, Italy, Austria and the Netherlands account for 73% of the storage volume. EU countries are rushing to fill gas storages as winter approaches and Russia announces restrictions on gas supplies. Here are 6 things to know about the accumulation of this energy resource in the EU.
The EU has 160 storage facilities for more than 100 billion cubic meters of gas. This is one quarter of the total consumption of 400 billion cubic meters. Gas can be stored indefinitely. It is usually stored underground in salt caves, aquifers, or empty tanks. Storage facilities typically provide 25-30% of the gas used in winter as a reserve to mitigate the impact of increased heating demand and temporary interruptions.
Only 18 EU countries have gas storage facilities. The remaining 9 have agreements to use the reserves of others in case of gas shortage. Gas is stored unevenly in EU countries. Germany, France, Italy, Austria and the Netherlands account for 73% of the volume.
EU countries are required to fill their gas storages by 80% by October 1. This decision was made after Russia invaded Ukraine in preparation for cutting off Russian gas supplies.
