MOSCOW, February 4. /TASS/. The current gas price situation renders summer gas injection to underground gas storages unprofitable, Gazprom said.

"Since mid-January, prices at the TTF gas hub with ‘next summer’ delivery are at the level of or higher than ‘next winter’ prices. Such situation makes summer gas injection to underground gas storages unprofitable, which further complicates the task for Europe to create the required inventory before the next heating season," Gazprom said.

According to Gas Infrastructure Europe (GIE), less than 40% of gas reserves remained in European underground storages as of February 2, the Russian gas holding said. 87% of the volume injected when preparing for the heating season were already withdrawn from European gas storages.