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29 Jan, 08:33

Gas reserves in European UGS lower than at the end of 2023 heating season

Europe has withdrawn around 47 bln cubic meters from UGS facilities since the beginning of the heating season

MOSCOW, January 29. /TASS/. Gas reserves in Europe’s underground gas storage (UGS) facilities have fallen below 55.5%, which is lower than the level at the end of the 2022-2023 heating season, according to data from 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 Europe has withdrawn around 47 bln cubic meters (bcm) from UGS facilities since the beginning of the heating season.

Gas withdrawal from UGS facilities in EU countries amounted to 466 mln cubic meters (mcm) on January 27, according to GIE. Pumping has risen to 71 mcm, the highest level since the end of December 2024. Total volume of gas in UGS facilities amounts to 61.5 bcm, which is the fourth-highest level for January since records started. European UGS facilities are currently 55.46% full (7.19 percentage points lower than the average as of this date in the past five years).

This which is already lower than the indicator not only at the end of the last autumn-winter period, but also at the end of the 2022-2023 heating season (55.47%). In the near future, the level of reserves will fall below the minimum values of 2020.

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started on October 29, 2024 (10 days earlier than in the previous autumn-winter season), with EU countries having withdrawn around 47 bcm of gas from UGS facilities since then.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 43% of their capacity now.