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Europe continues to stock up on gas in the heat of summer

Gas storage stocks exceed 85%

Aug 2, 2024 13:21 635

Europe continues to stock up on gas in the heat of summer  - 1

Record levels from last year when underground gas storage (GGS) were filled with 86 %. Gas on the stock exchange in Europe is traded at a price of about 410 USD per 1000 cubic mm, "Gazprom" supplies gas to Europe in transit through Ukraine in the amount of 42.4 million cubic meters per day through gas measuring station (GIS) "Suja".

"Gazprom" supplies Russian gas for transit through the territory of Ukraine in a volume confirmed by the Ukrainian side through GIS Suja - 42.4 million cubic meters on August 2. Application for GIS "Sochranovka" rejected“, a Gazprom representative told reporters.

A day before, the pumping volume also amounted to 42.4 million cubic meters

The transit line through Ukraine remains the only route for the supply of Russian gas to the countries of Western and Central Europe after the destruction of the “Nord Stream”. Russian gas supplies pass through Ukraine in reduced volume from May 2022, when the "GTS Operator of Ukraine" (OGTSU) announced the termination of transit to Europe through Sokhranovka station. due to force majeure: the company claims that it cannot exercise control over the Novopskov compressor station in UPI. The Russian gas holding, however, sees no reason to stop pumping as before.

Gas loading in gas storage facilities of EU countries on July 31, according to Gas Infrastructure Europe (GIE), amounted to 252.6 million cubic meters, selection - 28 million cubic meters.< /p>

Currently, European LNG is 85.12% full (9.06 percentage points more than the average for this date in the last five years), they contain about 93.6 billion cubic meters of gas.

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The share of wind generation in EU electricity production in July fell to its lowest level since June 2023 and stood at 11.56%, down from 8.5% on August 1.

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Total receipts of liquefied natural gas from terminals in the European gas transport system in June became the lowest since November 2021, and in July the downward trend continued. Currently, the capacity for regasification of liquefied gas and its further injection into European pipelines is loaded at 35% of the maximum. The average purchase price of gas in Europe in July was 365 dollars per 1000 cubic meters.