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Energy crisis in Europe

Gas reserves in European UGS facilities down to 76.73%

The gas purchase price averaged $491 per 1,000 cubic meters in Europe in November and it has been around $484 in December

MOSCOW, December 20. /TASS/. The rates of withdrawal of gas from underground gas storage (UGS) facilities in European countries have slowed down amid warm weather, according to data provided by Gas Infrastructure Europe (GIE). Europe has withdrawn over 22 bln cubic meters (bcm) from UGS facilities since the beginning of the heating season. The gas price on the exchange in Europe is around $460 per 1,000 cubic meters. Meanwhile 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.

"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 December 20. 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 439 mcm on December 18, according to GIE. Meanwhile pumping equaled 39 mln cubic meters. European UGS facilities are currently 76.73% full (3.09 percentage points lower than the average as of this date in the past five years), with 85.2 bcm of gas stored in them.

The heating season in Europe started on October 29, 2024 (10 days earlier than in the previous autumn-winter season), with EU countries having withdrawn over 22 bcm of gas from UGS facilities since then.

The share of wind generation in the EU’s electricity generation has equaled 20% in December. The gas purchase price averaged $491 per 1,000 cubic meters in Europe in November and it has been around $484 in December.

LNG supplies from terminals to Europe’s gas transport system in the middle of December have been record for this period. Facilities for regasification of liquefied gas and its further pumping into Europe’s pipelines are loaded by 46% of their capacity now.

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