France swiftly replenishes gas storage after winter shortages

France is leading the eurozone in refilling gas storage facilities, having pumped more natural gas than any other European Union member last month. According to Gas Infrastructure Europe, the volume of pumping was double Germany’s one and 70% higher than Italy’s.

This rapid recovery follows France’s gas reserves falling to their lowest level since 2018 during the previous winter. Government support and improved market conditions played a key role, as noted by Bloomberg analysts.

As of now, French storage facilities are 43% full, having risen from 21% in mid-March. Meanwhile, German stocks sit at 33%. In general, Europe remains under pressure to rebuild reserves amid ongoing market volatility and potential demand surges linked to the hot summer.

The success stems largely from the government’s policy of guaranteeing a minimum income to storage operators. By compensating for shortfall costs via tariffs on gas transmission, the state has incentivized active filling of storage facilities. James Waddell of Energy Aspects Ltd attributes this swift response to the policy.