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Gas reserves in European underground gas storage facilities reach 87.3%

Gas price on the European exchange is about $450 per 1,000 cubic meters

MOSCOW, August 12. /TASS/. European underground storage facilities (UGS) are now filled by 87.3%, which still below the record level of 2023, when UGS facilities were filled to 88.5%, according to data from Gas Infrastructure Europe (GIE).

Gas price on the European exchange is about $450 per 1,000 cubic meters due to the situation with gas transit through Ukraine amid the attack by the Ukrainian armed forces on Russia’s Kursk region.

On August 10, gas injection into UGS facilities in EU countries amounted to 270 million cubic meters, while withdrawal was equal to 32 million cubic meters.

Currently, European UGS facilities are filled to 87.26% (8.07 percentage points higher than the average for this date over the past five years), containing more than 96 billion cubic meters of gas. The weather during the current week in Central and Western Europe is expected to be as warm as in the previous seven-day period. The share of wind power in EU electricity generation fell to 11% in August.

The total receipts of liquefied natural gas from terminals to the European gas transmission system in July were the lowest since November 2021, and the downward trend continues in August. Currently, the capacities for regasification of liquefied gas and its subsequent injection into pipelines in Europe are loaded at 29% of its maximum. The average gas purchase price in July in Europe was $366 per 1,000 cubic meters, and in August it rose to $426.

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