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Gas pumping into European UGS facilities hits 2011 lows in October

Total LNG supplies from terminals to Europe’s gas transport system in August hit the lowest level since October 2021, though they returned to growth in September

MOSCOW, October 14. /TASS/. Total withdrawal of gas from European underground gas storage (UGS) facilities in October has been the fourth-highest ever for this month by now, while pumping has reached the lowest level since 2011. Reserves in UGS facilities has increased to 94.9%. The gas price on the exchange in Europe is $450 per 1,000 cubic meters.

Gas pumping into UGS facilities in EU countries amounted to 142 mln cubic meters on October 12, according to data provided by Gas Infrastructure Europe (GIE). Meanwhile, withdrawal equaled 46 mln cubic meters.

European UGS facilities are currently 94.93% full (3.11 percentage points higher than the average as of this date in the past five years), with 105.32 bln cubic meters of gas stored in them.

Total LNG supplies from terminals to Europe’s gas transport system in August hit the lowest level since October 2021, though they returned to growth in September. Facilities for regasification of liquefied gas and its further pumping into Europe’s pipelines are loaded by 37% of their capacity now. The gas purchase price averaged $416 per 1,000 cubic meters in Europe in September and around $450 in October.

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