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Gas withdrawal from European UGS facilities exceeds five-year average by almost one third

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started on October 29, 2024 (10 days earlier than in the previous autumn-winter season), with EU countries having withdrawn over 41 bcm of gas from UGS facilities since then

MOSCOW, January 21. /TASS/. Gas reserves in Europe’s underground gas storage (UGS) facilities have dropped to around 60%, while withdrawal rates have been almost one third higher than the five-year average since the beginning of the heating season, according to data provided by Gas Infrastructure Europe (GIE). Meanwhile total gas volumes in UGS facilities are at the fourth-highest level for January since records started. Europe has withdrawn over 41 bln cubic meters (bcm) from UGS facilities since the beginning of the heating season.

Gas withdrawal from UGS facilities in EU countries amounted to 844 mln cubic meters (mcm) on January 19, according to GIE. Total volume of gas in UGS facilities amounts to 66.9 bcm of gas, which is the fourth-highest level for the beginning of January since records started. European UGS facilities are currently 60.24% full (7.35 percentage points lower than the average as of this date in the past five years).

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started on October 29, 2024 (10 days earlier than in the previous autumn-winter season), with EU countries having withdrawn over 41 bcm of gas from UGS facilities since then.

The share of wind generation in the EU’s electricity generation has equaled 21% in January. The gas purchase price averaged $489 per 1,000 cubic meters in Europe in December and it has been at around $503 in January.

LNG supplies from terminals to Europe’s gas transport system in January have increased compared with the end of December. Facilities for regasification of liquefied gas and its further pumping into Europe’s pipelines are loaded by 39% of their capacity now.