Europe narrowly achieved its February target for natural gas inventories, with some countries failing to meet their individual thresholds, raising concerns about the region’s gas supply.
Among the largest energy consumers in Europe, France’s gas storage level stood at 35.5% full as of February 1, which fell short of the European Commission’s target of 41%.
However, the European Union’s executive arm allows countries that miss their targets by five percentage points or less to be considered compliant with the guidelines.
On a broader scale, the storage levels across the European Union were approximately 53% full at the start of February — marking the lowest level for this time of year since 2022. This was slightly above the Commission’s target of 50%, yet still indicative of the challenges ahead for the region’s gas supply management.
Some EU countries have lower, separate targets due to exemptions for domestic usage or exports. For example, the Netherlands aimed for 39% storage on Feb. 1, lower than the European Commission’s 47%, but achieved 37.1%.
Other exempt countries include the Czech Republic, Hungary, Latvia, Slovakia, and Austria, where the target is 24.9% versus the Commission’s 64%.Dutch front-month gas traded 0.1% lower at €53.18/MWh, after rising 3% earlier due to oil price gains following Trump’s tariff threats.
