All news
28 Jan, 10:03

Gas pumping into European UGS up to highest level since late December, reserves below 56%

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started on October 29, 2024 (10 days earlier than in the previous autumn-winter season), with EU countries having withdrawn around 46.5 bcm of gas from UGS facilities since then

MOSCOW, January 28. /TASS/. Gas reserves in Europe’s underground gas storage (UGS) facilities have fallen below 56%, though withdrawal rates have dropped sharply amid a warm spell, while pumping has increased to the highest level since the end of December, 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 Europe has withdrawn around 46.5 bln cubic meters (bcm) from UGS facilities since the beginning of the heating season.

Gas withdrawal from UGS facilities in EU countries amounted to 451 mln cubic meters (mcm) on January 26, according to GIE. Pumping has risen to 66 mcm, the highest level since the end of December 2024. Total volume of gas in UGS facilities amounts to 61.9 bcm, which is the fourth-highest level for January since records started. European UGS facilities are currently 55.82% full (7.44 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started on October 29, 2024 (10 days earlier than in the previous autumn-winter season), with EU countries having withdrawn around 46.5 bcm of gas from UGS facilities since then.

The share of wind generation in the EU’s electricity generation has averaged 21% in January. The gas purchase price averaged $489 per 1,000 cubic meters in Europe in December and it has been at around $510 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 40% of their capacity now.