MOSCOW, November 6. /TASS/. European gas withdrawals from underground storage (UGS) facilities are more than eight times higher than injections amid cool weather, according to data from Gas Infrastructure Europe (GIE).

European gas withdrawals in October were 2.5-fold higher, the fourth highest on record for the month, while injections were the lowest since 2012 and 38% lower than last year.

Gas is traded on the European exchange at a price of about $443 per 1,000 cubic meters.

According to Gas Infrastructure Europe (GIE), on November 4, 27.8 mln cubic meters of gas was injected into underground storage facilities in EU countries. At the same time, withdrawals amounted to 238.8 mln cubic meters. Currently, Europe's underground gas storage facilities are 95.01% full (2.3 p.p. higher than the average for this date over the past five years) with 105.5 bln cubic meters of gas.

The share of wind power in EU electricity generation increased to 17.9% in October and has averaged 14.4% since the beginning of November.

Total liquefied natural gas flows from terminals to the European gas transmission system in August were the lowest since October 2021, but started to grow in the fall and amounted to 8.77 bln cubic meters in October, 11% higher than in September. At the same time, this figure was the lowest for this month since 2021. Currently, the capacity for regasification of LNG and its subsequent injection into European pipelines is at 45% of its maximum.

The average gas purchase price in Europe was $456 per 1,000 cubic meters in October and about $448 so far in November.