Gas withdrawal from UGS in Europe this heating season exceeds last year’s almost twofold

Business & Economy November 18, 12:53

European UGS facilities are currently 90.99% full

MOSCOW, November 18. /TASS/. European countries continue spending gas from their underground gas storage (UGS) facilities actively amid a cold spell, according to data provided by Gas Infrastructure Europe (GIE).

Withdrawal from their UGS facilities since the beginning of the heating season has already been 67% higher than the average value in similar spending periods over the past five years and almost twice as high compared with last year. The gas price on the exchange in Europe is around $500 per 1,000 cubic meters. Meanwhile Gazprom supplies gas for Europe through Ukraine in the volume of 42.4 mcm per day to the Sudzha gas pumping station in Russia’s Kursk Region.

Gas pumping into UGS facilities in EU countries amounted to 34 mln cubic meters on November 16, according to GIE. Meanwhile withdrawal equaled 330 mcm. European UGS facilities are currently 90.99% full (0.57 percentage points higher than the average as of this date in the past five years), with 101 bln cubic meters of gas stored in them.

"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 18. 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.

The gas purchase price averaged $456 per 1,000 cubic meters in Europe in October and it has been around $472 in November.

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 8.8 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 36% of their capacity now.

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