GasTerra

GasTerra was the Dutch state gas trading company responsible for marketing natural gas produced from the Netherlands, primarily from the Groningen field and associated smaller fields. It operated as the commercial Arm of the Dutch gas market for decades, buying gas from producers including NAM (Nederlandse Aardolie Maatschappij, the Shell/ExxonMobil joint venture) and selling it to industrial buyers and energy companies across Europe. In the final period before its dissolution, GasTerra depleted the Norg storage facility (59 TWh working volume) and Grijpskerk (24 TWh) ahead of the NAM handover on 1 April 2026, leaving both facilities at structural zero carry-in for the 2026/27 injection season.

GasTerra was wound down as the Dutch government accelerated the closure of the Groningen gas field, completing its decommissioning process in 2024. Its market role was transferred to commercial buyers and the Dutch grid operator, with NAM formally assuming responsibility for Norg and Grijpskerk on 1 April 2026 under the terms of the Groningen field closure agreement.

The depletion of Norg and Grijpskerk before the NAM handover Left Bergermeer as the sole large Dutch injection-capable facility entering the 2026/27 season, significantly concentrating Dutch storage dependency on a single asset during a period when broader EU storage fill is already tracking below the 80% November target.