European gas storage levels remain high

Gas withdrawal from European underground storage facilities has decreased slightly, but still surpasses the injection rate, as reported by Gas Infrastructure Europe (GIE).

The gas price on the European exchange is about $480 per 1,000 cubic metres. Gazprom continues to supply gas to Europe through Ukraine at a rate of 42.4 million cubic metres per day to the Sudzha gas pumping station in Russia’s Kursk Region.

On November 10, gas pumping into UGS facilities in European countries was 32 million cubic metres, while withdrawal was 252 million cubic metres.

European UGS facilities are 93.37 per cent full, storing 103.6 billion cubic metres of gas, which is 1.1 percentage points higher than the average for this date over the past five years.

Gazprom confirmed that it is supplying 42.4 million cubic metres of Russian gas for transit through Ukraine via the Sudzha gas pumping station as of November 12. However, the request for the Sokhranovka gas pumping station was rejected. The volume pumped the previous day was 42.3 million cubic meters.

LNG supplies to Europe’s gas transport system in August were at their lowest since October 2021. However, they rebounded in the fall, reaching 8.8 billion cubic metres in October, an 11 per cent increase from September.

Despite the growth, this was still the lowest level for October since 2021. Currently, facilities for regasifying liquefied gas and pumping it into Europe’s pipelines are operating at 40 per cent capacity.

Attribution: Tass

Subediting: M. S. Salama