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EU gas usage hit an all-time record on Christmas Day, according to Gazprom.

The Russian company warns that reserves are depleted. Stocks of essentials in the European Union may run out before the heating season ends.

The EU withdrew a record quantity of gas from underground storage facilities on Christmas Day. Gazprom has reported this event. They warn that low reserves mean supplies would prematurely run out.

As of December 25, Europe had 66.3 billion cubic meters of gas in storage. This is down 9.9 bcm year-on-year, the company said in a Telegram post on Saturday.

Withdrawals this season are proceeding faster than during the previous heating period, it noted. Despite the holiday lull, demand typically eases during this period. However, withdrawals on December 24 and 25 were the highest ever recorded for those dates.

German storage sites were at only 59.8% of capacity by Christmas Day, a level reached only at the end of January last season.

In the Netherlands, reserves fell to 52.5%. The two countries are Europe’s first- and third-largest consumers by storage capacity.

Gazprom described the situation in the Baltics as particularly challenging. Latvia’s Incukalns facility, the region’s only underground gas storage site, was at just 49.5% of capacity as of December 25.

Last season, such levels were seen only in mid-February.

Two winter months still remain. Withdrawals would continue well into spring. This happened until mid-April last year.

This raises the risk that stocks may be exhausted before the heating season ends, the company said.

‘Insufficient gas reserves in underground gas storage facilities would pose a serious challenge.

It may affect the reliable supply of gas to European consumers,’ Gazprom warned.

The EU has sharply cut imports of Russian energy. This energy once accounted for about 40% of its consumption.

The reduction occurred since it imposed sanctions on Moscow after the escalation of the Ukraine conflict in February 2022.

Moscow has criticized the sanctions as self-inflicted economic harm. It points to years of price spikes.

Moscow argues the EU is sacrificing affordable energy for political reasons.

Russian officials warn that, even if direct imports end, the bloc will need to find other solutions. These solutions will either be costlier alternatives or indirect supplies via intermediaries.

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