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European gas reserves remain below 2019 levels

They are currently just over 94%

Sep 30, 2024 11:53 183

European gas reserves remain below 2019 levels  - 1

The volume of gas reserves in European underground storages (NGS) exceeded 94.1% , but lags behind the record levels of 2019, when gas stations were 96.2% full. Gas injection into underground gas storage facilities slowed significantly in September, hitting a low since 2011. Gas on the European stock market is trading at USD 440 per 1,000 cubic meters.

According to Gas Infrastructure Europe (GIE), the injection of gas into underground gas storage facilities of the EU countries on September 28 amounted to 151 million cubic meters. At the same time, the selection turned out to be 45 million cubic meters

Currently, European LNG facilities are 94.18% full (4.35 percentage points more than the average for this date in the last five years), they contain 104.4 billion cubic meters of gas.

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This week's weather in central and western Europe is expected to be slightly cooler than the previous seven-day period. The share of wind power in EU electricity production rose to 18% in September.

Total receipts of liquefied natural gas from terminals in the European gas transport system in August fell to the lowest since October 2021, but started to rise again in September. Currently, the capacity for regasification of liquefied gas and its further injection into European pipelines is loaded at 31% of the maximum. The average purchase price of gas in Europe in August was 437 USD per 1000 cubic meters, and in September - about 414 USD.