May 19, 2025 [offshore-technology]- The cost to fill gas storage to 90% by November is projected at €26bn ($29.32bn), an increase from last year’s €16bn for 99% capacity.

The cost of replenishing the EU’s gas storage facilities after a cold winter, which depleted its reserves, is set to increase by at least €10bn compared with the previous year, reported the Financial Times.

This increased expenditure is necessary to meet the EU’s mandate of refilling storage to 90% capacity each summer, a policy implemented following Russia’s invasion of Ukraine in 2022 to mitigate disruptions during cold months.

Following this winter, Europe’s gas reserves were two-thirds depleted by March, necessitating considerable effort and expenditure over the summer to replenish them to standard levels.Allianz Trade analyst Ano Kuhanathan noted that Europe experienced its first true winter since the conflict in Ukraine, with a shortfall in wind-generated renewable energy also contributing to heightened gas consumption.

Although current gas prices are lower due to reduced demand from China, Kuhanathan estimated that the cost to achieve the 90% storage target by November will be €26bn, compared with €16bn for reaching 99% capacity last year.

EU nations have recently agreed on a more flexible approach to the gas storage target, responding to criticism that the strict 90% threshold led to summer price surges as countries hastened to fill their reserves.