Romania has used around one third of its natural gas reserves allocated for the winter season, as colder weather has been driving up consumption and pushing gas prices higher across Europe, according to industry data. Romania, the Republic of Moldova, and Ukraine have been particularly affected after an unusually mild December, with all three countries currently importing gas at full capacity.

After roughly one month of winter conditions, Romania’s underground gas storage facilities were almost 64% full, according to public data from the AGSI platform, the European gas storage data aggregator consulted by Ziarul Financiar, which reported on January 16. The accelerated drawdown reflects both lower temperatures and sustained demand from households and industry.

Data published on the European Council website showed that Romania’s domestic gas storage capacity has remained unchanged for several years at around 3.2 billion cubic metres. This is among the lowest storage capacities in the European Union relative to consumption, limiting the country’s ability to buffer prolonged cold spells.

Higher consumption has translated into a sharp increase in wholesale prices. Natural gas traded on the Romanian Commodity Exchange, known as BRM, reached its highest levels of the past week amid increased demand. The average daily price for gas delivered on January 17 rose to RON 213.15 per megawatt hour, equivalent to about EUR 42 per MWh, according to BRM data.

During the same trading session, a volume of 1.5 gigawatt hours was exchanged at a peak price of RON 231 per MWh, or roughly EUR 46 per MWh, reflecting tight short-term supply conditions.

Price pressures persisted in subsequent sessions. For gas scheduled for delivery on January 19, traded volumes declined to 79 GWh, but prices continued to climb. The average price reached RON 232.7 per MWh, equivalent to around EUR 47 per MWh, according to data cited by Profit.ro on January 16.

The increase in prices comes as meteorological forecasts point to another wave of low temperatures towards the end of the month, raising concerns over further depletion of reserves. Regional markets have also been affected, with higher import demand from neighbouring countries contributing to tighter supply conditions.

iulian@romania-insider.com

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