Netherlands meets EU gas storage target after government intervention

State-owned energy company EBN has completed its assignment to fill the Netherlands’ underground gas storage facilities to 64 percent of capacity, in line with the European target. The Ministry of Economic Affairs and Climate Policy gave the company responsibility for meeting the target, with the government allocating nearly 1 billion euros to cover the associated costs.

Gas storage facilities in the Netherlands are now 65.5 percent full, exceeding the revised European target of 64 percent. State-owned energy company EBN helped meet the target after private companies were reluctant to replenish reserves over the summer.

Under normal circumstances, market participants buy and store gas during the summer months. However, unrest in the Middle East drove up natural gas prices in the spring, making replenishment less attractive. The original European target of 74 percent appeared increasingly out of reach, prompting the Dutch government to lower its target to 64 percent in September following a request from the European Union.

“Our filling task has been completed, with the aim of causing as little market disruption as possible and conducting operations as cost-effectively as possible,” said Nicolien Vrisou van Eck, EBN’s director of gas transition.

Energy Minister Stientje van Veldhoven expressed little concern about the Netherlands’ low gas storage levels in late August, despite warnings from gas infrastructure operator Gasunie that the country might miss its annual filling target.

The Dutch government also plans to ask EBN to replenish the country’s gas reserves in the summer of 2027 if private companies fail to do so. The announcement was made on Friday and concerns the 2027/2028 filling season. EBN is still discussing the details of the assignment, although preparations are already underway.