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Gas reserves in European UGS facilities exceed 51%

Gas volumes in UGS facilities total 56.4 bln cubic meters

MOSCOW, June 10. /TASS/. Gas reserves in European underground gas storage (UGS) facilities have exceeded 51%, according to Gas Infrastructure Europe (GIE) data. Import of LNG by EU countries has been at record rates for this month in June.

Gas pumping into UGS facilities in EU countries amounted to 493 mln cubic meters (mcm) on June 8, according to GIE. Withdrawal has fallen to 19 mln cubic meters (mcm). Gas volumes in UGS facilities total 56.4 bln cubic meters (bcm), which is 28% lower than in the previous year.

European UGS facilities are currently 51.4% full (10.45 percentage points lower than the average as of this date in the past five years) compared to 71.6% 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.

This week is expected to be warmer than the previous one in Europe. The share of wind generation in the EU’s electricity output averaged 15% in May, and it has been at around 16% in June. The gas price averaged $412 per 1,000 cubic meters in Europe in May, and around $422 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 56% of their capacity now.

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