Gas reserves in European UGS near 88.5% capacity – GIE

Gas reserves in European underground gas storage (UGS) facilities are almost full, with levels reaching 88.47 per cent as of August 14, according to data released by Gas Infrastructure Europe (GIE). This is 8.03 percentage points higher than the average as of this date in the past five years.

Gas pumping into European UGS facilities stood at 315 million cubic metres on August 14, while withdrawals totalled 21 million cubic metres.

Currently, European UGS facilities hold 97.4 billion cubic metres of gas.

In July, total LNG supplies from terminals to Europe’s gas transport system in July dropped to their lowest level since November 2021, and this downward trend has continued into August. Regasification facilities are operating at only 35 per cent capacity.

As a result of these factors, the average gas purchase price in Europe climbed from $366 per 1,000 cubic metres in July to $433 in August.

Attribution: GIE, WAM & TASS

Subediting: Y.Yasser