The Netherlands has authorised a subsidy of up to €993 million to state-owned energy firm EBN Capital BV to support the rebuilding of the country’s gas reserves, a move aimed at shoring up supplies ahead of winter.
In a letter to parliament, Dutch Climate Minister Stientje van Veldhoven said the measure permits EBN to store as much as 80 terawatt-hours of gas "if the market fails to do so sufficiently," and added that "EBN’s role should therefore be viewed as a supplementary safeguard."
European benchmark natural gas has risen sharply in recent weeks, climbing 48% since the start of the Iran War, a spike that has contributed to slower-than-expected replenishment of the region’s storage sites ahead of the colder months.
Region-wide inventories stand at just over 40% of capacity, significantly below the five-year seasonal average of 54%. The minister highlighted heightened competition from Asian buyers for liquefied natural gas cargoes, noting that flows through the Strait of Hormuz remain effectively halted and are likely to intensify that competition.
The Dutch decision follows similar pro-stockpiling efforts in parts of Europe this summer. Italy and France have pushed injection programmes that left their reserves above the European Union average, while Germany has stated it will not take comparable interventionist steps.
According to data supplied by the Netherlands’ national energy monitor, domestic storage facilities are currently under 16% full, a marked decline from well over 36% at the same point last year. The Climate Minister linked the shortfall in private-sector injections to elevated prices, saying high prices are deterring private companies from stockpiling.
By granting EBN the authority and funding to add volumes to storage, the government frames the company’s involvement as a backstop in case market participants do not inject sufficient gas. The authorisation places EBN in a supplementary role rather than that of a primary market actor.
The subsidy and storage authorisation are designed to bolster supply resilience by ensuring additional volumes can be acquired and held in reserve if commercial incentives fail to produce adequate injections. The ministry letter presented the measure as targeted support to address the current shortfall in inventories amid sustained price pressures and international supply tensions.
Contextual note: The letter and the figures cited above come from the Dutch Climate Ministry and the national energy monitor; the minister’s comments underline the government rationale for the EBN intervention.