31 Jan, 14:15

Gas reserves in European UGS facilities down below 55%

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started on October 29, 2024 (10 days earlier than in the previous autumn-winter season), with EU countries having withdrawn around 48 bcm of gas from UGS facilities since then

MOSCOW, January 31. /TASS/. Gas reserves in Europe’s underground gas storage (UGS) facilities have fallen below 55%, 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 Europe has withdrawn around 48 bln cubic meters (bcm) from UGS facilities since the beginning of the heating season.

Gas withdrawal from UGS facilities in EU countries amounted to 464 mln cubic meters (mcm) on January 29, according to GIE. Pumping has dropped to 33 mcm. European UGS facilities are currently 54.65% full (6.91 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started on October 29, 2024 (10 days earlier than in the previous autumn-winter season), with EU countries having withdrawn around 48 bcm of gas from UGS facilities since then.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 $514 in January.

LNG supplies from terminals to Europe’s gas transport system in January have decreased compared with December. Facilities for regasification of liquefied gas and its further pumping into Europe’s pipelines are loaded by 44% of their capacity now.

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