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Summer gas prices in Europe almost $100 above winter figures — Gazprom

At the same time, the company notes stagnation in filling European Underground Gas Storages

MOSCOW, June 16. /TASS/. Natural gas prices on European spot markets climbed to $360 per 1,000 cubic meters and continue growing on the back of high demand and low reserves in underground gas storages. The price is almost $100 above the February maximum, Gazprom told reporters on Wednesday.

"The price reached $363.8 per 1,000 cubic meters at the NCG hub on June 14. This is more than $100 above maximal prices of last February, for example," the company said.

At the same time, Gazprom notes stagnation in filling European Underground Gas Storages (UGS). The delay in terms of active gas volumes is 33 bln cubic meters against the figures in the last year.

"According to Gas Infrastructure Europe data, just 13.6 bln cubic meters were replenished as of June 14 out of 66 bln cubic meters of gas withdrawn in the last winter season, the minimal volume over the comparable periods. The lag in terms of the active gas volume in UGS against the like date of the last year remains very high - 33 bln cubic meters," Gazprom said.