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Energy crisis in Europe

Europe continues to take record-high amounts of gas from storage facilities this week

European underground gas storage facilities were 57.5% full on Wednesday

© EPA-EFE/ROBERT GHEMENT

MOSCOW, December 24. /TASS/. The gas intake from European underground gas storage facilities once again hit record on December 22 for the date since records started in 2011, according to the data provided by Gas Infrastructure Europe (GIE).

The gas intake from European underground storage facilities surpassed 775.2 mln cubic meters, which is the highest level not only since the beginning of the heating season in Europe in October 2021, but also since GIE records started for the date.

European underground gas storage facilities were 57.5% full on Wednesday, currently having slightly more than 62 bln cubic meters of gas, down by 22.5 bln cubic meters compared with the previous year.

The exchange gas price in Europe crossed the level of $2,000 per 1,000 cubic meters. The TTF hub futures price is highly volatile because of speculations and does not reflect the real price of physical suppliers to Europe. The average gas export price under Gazprom contracts will be $280 per 1,000 cubic meters in 2021.

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Energy crisis in Europe

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