All news

Gas reserves in UGS facilities in Europe stabilize at around 95%

Currently, the European UGS facilities are 95.01% full (3.05 pp higher than the average for this date over the past five years), containing 105.44 bln cubic meters of gas

MOSCOW, October 17. /TASS/. Total gas withdrawal from European underground storage (UGS) facilities in October 2024 is currently the fourth highest in history for this month, while injection is at the minimum since 2011. Reserves in UGS exceed 95%, but are already significantly behind last year's record. Gas is trading at $440 per 1,000 cubic meters on the European exchange.

According to Gas Infrastructure Europe (GIE), on October 15, 93 mln cubic meters of gas were injected into UGS facilities in EU countries. At the same time, withdrawals amounted to 83 mln cubic meters of gas.

Currently, the European UGS facilities are 95.01% full (3.05 pp higher than the average for this date over the past five years), containing 105.44 bln cubic meters of gas.

The weather during the current week in Central and Western Europe is slightly cooler than in the previous week. The share of wind power in EU electricity generation increased to 19% in October.

The total flow of LNG from terminals into the European gas transmission system in August was the lowest since October 2021, but it increased again in September. Currently, the capacity for regasification of LNG and its subsequent injection into European pipelines is at 43% of its maximum. The average gas purchase price in Europe was $416 per 1,000 cubic meters in September and around $451 in October.