MOSCOW, February 4. /TASS/. Gas reserves in underground gas storage (UGS) facilities in Europe have fallen to about 52.5%, according to data from Gas Infrastructure Europe (GIE). However, gas volumes in UGS facilities are still the fourth highest ever for early February. Since the beginning of the heating season, the EU has withdrawn more than 50 bln cubic meters from UGS facilities.
Gas withdrawals from UGS facilities in EU countries on February 2 amounted to 529 mln cubic meters, according to GIE. Injections fell to 29 mln cubic meters. Despite the high rate of consumption of gas reserves in January, the situation for Europe is far from catastrophic. The total volume of fuel in UGS facilities for the beginning of February is the fourth highest for the entire observation period - less than 58.5 bln cubic meters of gas.
The last season of gas withdrawal from European underground storage facilities ended on March 31, 2024, when 58.44% of the reserves remained in them (a record for the observation period). Now the European UGS facilities are filled to 52.65% (7.08 p.p. lower than the average for this date over the past five years), which is already lower than the figure not only at the end of the last fall-winter period, but also at the end of the 2019-2020 and 2022-2023 heating seasons.
The heating season in Europe began on October 29, 2024 (10 days earlier than in the previous fall-winter season) and since then EU countries have withdrawn more than 50 bln cubic meters of gas from storage. At the same time, the total gas withdrawal from the UGS on the 97th day after reaching the maximum filling level is 24% higher than the average for this day over the last five years. The most problematic years for the EU were 2018 and 2022, when reserves in storage facilities at the end of the heating season in spring fell to critical levels below 18% and 26%, respectively, and it was even necessary to resort to withdrawing the so-called buffer gas, which is used to maintain the required pressure in storage facilities.
The current week in Europe is expected to be colder than the previous seven days. The share of wind power in EU electricity generation averaged 21% in January and only about 8% in the first days of February. The average gas price in Europe in December 2024 was $489 per 1,000 cubic meters, in January 2025 - around $518, and at the beginning of February - $574.
The flow of LNG from terminals into the European gas transportation system in February is at the same level as last year. Currently, the capacity for regasification of LNG and its subsequent injection into European pipelines is at 49% of its maximum.