Europe withdraws over 500 mln cubic meters of gas per day from UGS amid cold weather

Business & Economy November 22, 11:47

The gas price on the exchange in Europe is around $525 per 1,000 cubic meters

MOSCOW, November 22. /TASS/. European countries continue to actively use up their underground storage facilities (UGS), steadily withdrawing more than 500 million cubic meters of gas per day, according to data from Gas Infrastructure Europe (GIE). Withdrawal from their UGS facilities has been one and a half times as high since the beginning of the heating season as last year.

The gas price on the exchange in Europe is around $525 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.

"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 22. 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 withdrawal from UGS facilities in EU countries amounted to 528 mln cubic meters on November 20, according to GIE. Meanwhile pumping equaled 14 mln cubic meters. European UGS facilities are currently 89.4% full (1.46 percentage points lower than the average as of this date in the past five years), with 99.2 bln cubic meters of gas stored in them.

The gas purchase price averaged $456 per 1,000 cubic meters in Europe in October and it has been around $484 in November.

Total LNG supplies from terminals to Europe’s gas transport system in November have been at the lowest level for this month since 2021 so far. Facilities for regasification of liquefied gas and its further pumping into Europe’s pipelines are loaded by 40% of their capacity now.

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