MOSCOW, June 6. /TASS/. Gas reserves in European underground gas storage (UGS) facilities have approached 50%, according to Gas Infrastructure Europe (GIE) data. Import of LNG by EU countries reached a record level in May.
Gas pumping into UGS facilities in EU countries amounted to 379 mln cubic meters (mcm) on June 4, according to GIE. Withdrawal has fallen to 20 mln cubic meters (mcm). Gas volumes in UGS facilities total 54.7 bln cubic meters (bcm), which is 30% lower than in the previous year.
European UGS facilities are currently 49.88% full (10.78 percentage points lower than the average as of this date in the past five years) compared to 70.7% in the previous year. The European Commission requests EU members to make sure that their UGS facilities are 90% full by November 1 of each year for ensuring elevated reserves for the winter period to be prepared for interrupted supplies or abnormally cold weather.
Gazprom has warned of potential challenges for Europe in meeting its storage targets by winter. Countries in the region will need significantly more gas to replenish reserves this summer and, amid limited new capacity coming online, are expected to face heightened competition for LNG from Asia, where demand for the fuel is rising. The Gas Exporting Countries Forum anticipates that the EU will face difficulties in achieving the 90% storage target by winter.
The current week is turning out to be much warmer than the previous one in Europe. The share of wind generation in the EU’s electricity output averaged 15% in May. The gas price averaged $412 per 1,000 cubic meters in Europe in May, and around $417 in June.
LNG imports by Europe hit an all-time high level in May (12.75 bcm). Facilities for regasification of liquefied gas are loaded by 53% of their capacity now.