MOSCOW, October 18. /TASS/. Total EU gas reserves remain at historic highs of around 98%, but injection rates have fallen sharply due to colder temperatures. At the same time, LNG supplies to the region have been at an all-time low for nearly two years. Gas is traded on the European stock exchange for around $540 per 1,000 cubic meters. At the same time, Gazprom transports gas to Europe via Ukraine in the amount of 42.4 mln cubic meters per day via the Sudzha gas pumping station in Russia’s Kursk Region.

"Gazprom supplies Russian gas for transit through Ukrainian territory in the volume confirmed by the Ukrainian side via the Sudzha gas pumping station of 42.4 mln cubic meters as of October 18. The request for the Sokhranovka gas pumping station has been rejected," a Gazprom representative told reporters.

Earlier, the Gas Transmission System Operator of Ukraine (GTSOU) confirmed the request for transit of 42.24 mln cubic meters of gas.

The transit line through Ukraine remains the only route to supply Russian gas to western and central European countries. The pumping through Nord Stream has been fully suspended.

Since May 2022, when GTSOU announced the suspension of transit to Europe via the Sokhranovka station due to force majeure - the company allegedly cannot exercise control over the Novopskov compressor station in the Lugansk People’s Republic, Russian gas supplies have been flowing through Ukraine in a reduced volume. The Russian gas holding, on the other hand, saw no reason to stop pumping as before.

In the fall of 2022, Naftogaz of Ukraine petitioned the International Court of Arbitration against Gazprom for allegedly late payment for gas transportation services through Ukrainian territory. Gazprom CEO Alexey Miller stated that the arbitration proceeding is illegitimate and that the Russian holding's participation in the process is pointless. At the same time, Russia may impose sanctions on Naftogaz if the Ukrainian company continues to engage in dishonest behavior, rendering any future relations with it impossible.

European gas market

According to Gas Infrastructure Europe (GIE), gas withdrawals from underground storage facilities (UGS) in EU countries totaled 67 mln cubic meters on October 16. At the same time, injection totaled 97 mln cubic meters.

Currently, European UGS facilities are 97.98% full (8.48 percentage points higher than the five-year average for this date) and they hold 107.98 bln cubic meters of gas, the EU's historical maximum. Back in mid-August, European countries filled their underground storage facilities with gas to the target 90% for the heating season. Previously, the European Commission expected such indicators to be achieved only by November.

Significant cooling in Central and Western Europe is expected this weather. Temperatures at night in some areas may fall into the sub-zero range in the second half of the week. Wind power's share of EU electricity generation increased to 20% in October.

Deliveries of liquefied natural gas from terminals into the European gas transmission system have increased slightly, but they remain at their lowest level since December 2021 in October. The capacity for regasification of liquefied gas and subsequent injection into European pipelines is currently at 56% of its maximum. In September, the average gas purchase price in Europe was $417 per 1,000 cubic meters, and in October it reached $480.