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Gas reserves in Europe hit all-time high, gas infrastructure operators association says

European UGS facilities are currently 97.89% full with 107.75 bln cubic meters of gas stored in them

MOSCOW, October 16. /TASS/. Total gas reserves in the EU have reached the absolute all-time high, according to data sourced from Gas Infrastructure Europe (GIE), an industry group representing European gas operators.

European underground gas storage (UGS) facilities are currently 97.89% full (8.54 percentage points higher than the average as of this date for the past five years), with a current stored volume of 107.75 bln cubic meters of gas. European countries succeeded in filling their UGS facilities with gas at the targeted level of 90% for the upcoming heating season by as early as mid-August, whereas the European Commission had earlier expected to reach this level only by November.

The previous absolute peak of European UGS facilities’ occupancy rates of 97.84% was recorded on October 28, 2019.

The International Energy Agency (IEA) said earlier that Europe might fill its gas storage facilities by almost 100%, although even such high reserves in the event of a cold winter and full suspension of gas supplies from Russia could lead to instability on the market in winter. The agency also acknowledged that reserves in European UGS facilities may drop below the critical 20% level by the end of the upcoming heating season.

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