MOSCOW, September 22. /TASS/. Gas reserves in European underground gas storage (UGS) facilities have exceeded 81.5%, with around 90 bln cubic meters (bcm) currently stored, according to Gas Infrastructure Europe (GIE) data.
Gas pumping into UGS facilities in EU countries amounted to 275 mln cubic meters (mcm) on September 20, according to GIE. Withdrawal has fallen to 16 mcm. Gas volumes in UGS facilities total 89.8 bcm.
European UGS facilities are currently 81.6% full (6.5 percentage points lower than the average as of this date in the past five years) compared to 93.6% in the previous year. According to new requirements from the European Commission, EU countries must ensure that their gas storage facilities are 90% full between 1 October and 1 December each year. Moreover, 10% flexibility is allowed in the event of difficult UGS filling conditions. That said, this requirement gives additional impetus to growth of gas prices on the European market. TASS calculations show that Europe’s net gas injection in the UGS filling season should reach at least 61 bln cubic meters to meet the 90% filling target.
The weather in Europe this week is expected to be cooler than in the previous seven days. The share of wind generation in the EU’s electricity output averaged 14% in August, and around 19% in September. The gas purchase price averaged $394 per 1,000 cubic meters in Europe in August, and around $394 in September.
Europe imported almost 63 bcm of LNG during the previous heating season, the third-highest figure for the period. Only in two previous winter seasons more regasified gas was supplied from LNG terminals to the EU gas transmission system.
Europe's LNG imports in June reached their highest level for the month (12.2 bcm), but then lost their record pace, which began to grow again with the onset of autumn. Facilities for regasification of liquefied gas are loaded by 47% of their capacity now.