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Gas withdrawal from European UGS facilities continues to grow, pumping decreases

Gas withdrawal by Europe climbed 2.5-fold in October, reaching the fourth-highest level in history for this month, while pumping was 38% below last year’s figures, hitting the lowest level since 2012

MOSCOW, November 8. /TASS/. Withdrawal of gas from European underground gas storage (UGS) facilities continues to grow, exceeding pumping significantly, according to data provided by Gas Infrastructure Europe (GIE).

Gazprom supplies gas for Europe through Ukraine in the volume of 42.4 mln cubic meters (mcm) per day to the Sudzha gas pumping station in Russia’s Kursk Region.

Gas withdrawal by Europe climbed 2.5-fold in October, reaching the fourth-highest level in history for this month, while pumping was 38% below last year’s figures, hitting the lowest level since 2012. The gas price on the exchange in Europe is around $460 per 1,000 cubic meters.

"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 November 8. The request for the Sokhranovka gas pumping station has been rejected," a Gazprom representative told reporters. On the previous day, the pumping also equaled 42.4 mln cubic meters.

Gas pumping into UGS facilities in EU countries amounted to 13.8 mln cubic meters on November 6, according to data provided by Gas Infrastructure Europe (GIE). Meanwhile withdrawal equaled 365 mln cubic meters. European UGS facilities are currently 94.43% full (1.9 percentage points higher than the average as of this date in the past five years), with 104.8 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 the fall, reaching 8.77 bln cubic meters in October, 11% higher than in September. That said, the level was the lowest for this month since 2021. Facilities for regasification of liquefied gas and its further pumping into Europe’s pipelines are loaded by 46% of their capacity now.

The gas purchase price averaged $456 per 1,000 cubic meters in Europe in October and it has been around $451 in November.