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Energy crisis in Europe

Gas withdrawal from European UGS facilities hits four-year high

European UGS facilities are currently 58.5% full

MOSCOW, January 23. /TASS/. Gas reserves in Europe’s underground gas storage (UGS) facilities have dropped below 59%, while daily withdrawal has surpassed 1 bln cubic meters (bcm) for the first time since 2021, according to data provided by Gas Infrastructure Europe (GIE). Meanwhile total gas volumes in UGS facilities are still at their fourth-highest level for January since records started. Europe has withdrawn over 43 bln cubic meters from UGS facilities since the beginning of the heating season.

Gas withdrawal from UGS facilities in EU countries amounted to over 1 bln cubic meters on January 21, according to GIE. Total volume of gas in UGS facilities amounts to 64.9 bcm, which is the fourth-highest level for the beginning of January since records started. European UGS facilities are currently 58.5% full (7.84 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started on October 29, 2024 (10 days earlier than in the previous autumn-winter season), with EU countries having withdrawn over 43 bcm of gas from UGS facilities since then.

The share of wind generation in the EU’s electricity generation has equaled an average of 20% in January. The gas purchase price averaged $489 per 1,000 cubic meters in Europe in December and it has been at around $506 in January.

LNG supplies from terminals to Europe’s gas transport system in January have increased compared with December. Facilities for regasification of liquefied gas and its further pumping into Europe’s pipelines are loaded by 49% of their capacity now.

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Energy crisis in Europe

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