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Energy crisis in Europe

Gas pumping into European UGS facilities almost equals withdrawal amid warm spell

European UGS facilities are currently 36.8% full

MOSCOW, March 10. /TASS/. Gas reserves in Europe’s underground gas storage (UGS) facilities have fallen below 37% for the first time in more than three years, though pumping into UGS facilities has become almost equal to withdrawal from them amid a rise in temperature, according to data provided by Gas Infrastructure Europe (GIE). Net withdrawal from European UGS facilities since the beginning of the heating season has reached over 65 bln cubic meters (bcm).

Gas withdrawal from UGS facilities in EU countries amounted to 166 mln cubic meters (mcm) on March 8, according to GIE. Pumping has risen to 132 mcm. Gas volumes in UGS facilities total 40.7 bcm, which is the seventh-highest level for early March since records started.

European UGS facilities are currently 36.8% full (10.59 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 The heating season in Europe started on October 29, 2024, with EU countries having withdrawn over 69 bcm of gas from UGS facilities since then.

The share of wind generation in the EU’s electricity output averaged 13% in February, and it has been at around 18% in March. The gas purchase price averaged $542 per 1,000 cubic meters in Europe in February, and it has equaled around $461 in early March.

LNG supplies from terminals to Europe’s gas transport system were at a record level last month. Facilities for regasification of liquefied gas and its further pumping into Europe’s pipelines are loaded by 48% of their capacity now.

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