The Netherlands has a $1 trillion gas field with enough reserves to replace supplies from Russia, Bloomberg reports.

Beneath the Netherlands lie Europe's largest natural gas reserves worth about $1 trillion. The question is about the Groningen gas field, the volume of which is enough to already this winter to replace most of the fuel that came to Europe from Russia via Germany, the publication noted.

According to the agency, since 1963 the field has been the main source of gas for Europe. Now there are about 450 billion cubic meters of gas. According to the calculations of Shell, 50 billion cubic meters of gas can now be extracted from the field a year, which is comparable to the supply of Russia through Germany last year in the amount of 46 billion cubic meters.

Bloomberg noted that the field continues to be conserved due to earthquakes, which were caused by drilling. They have affected about a third of the homes of local residents, who are vehemently opposed to continued drilling. However, the shortage of gas in Europe may force the Netherlands to take a radical step. In addition, the European Union is in favor of revising its position on the field.