Gas reserves in European underground gas storage (UGS) have fallen below 69%, and the rate of withdrawal since the start of the heating season is about 30% higher than the average for the previous 5 years, data from Gas Infrastructure Europe (GIE) shows. However, gas volumes in underground gas storage are the fourth largest in history, and gas on the European exchange is traded at a price of about 480 USD per 1000. cubic meters. Since the start of the heating season, the EU has withdrawn over 31.5 billion cubic meters. from underground storage facilities.
The withdrawal of gas from UGS facilities in EU countries on January 9, according to GIE data, amounted to 560 million cubic meters. Despite the high consumption of gas reserves, the situation in Europe is still far from a catastrophe. The total volume of fuel in underground gas storage is the fourth maximum for the beginning of January for the entire observation period - 76.4 billion cubic meters of gas.
The most problematic years for the EU were 2018 and 2022, when reserves in storage facilities by the end of the heating season in spring fell to critical levels below 18% and 26%, respectively (it was even necessary to resort to the selection of the so-called buffer gas, which is used to maintain the necessary pressure in storage facilities). Currently, European UGS are filled to 68.83% (6.03 percentage points lower than the average for this date for the last 5 years), which significantly exceeds the similar indicators for the “problematic“ years - 62% in 2018 and 52% in 2022. At the same time, in January 2024, reserves exceeded 84%.
The heating season in Europe began on October 29, 2024 (10 days earlier than in the last autumn-winter season), and since then, EU countries have withdrawn over 31.5 billion cubic meters of gas from storage. At the same time, the total gas withdrawal from underground gas storage facilities on the 73rd day from the moment of reaching their maximum filling is 28% higher than the average value for this day for the previous 5 years. The last gas withdrawal season from European underground storage facilities ended on March 31, 2024, when 58.44% of the reserves remained in them (a record for the observation period).
The current week in Europe is slightly cooler than the previous seven-day week, but significant cooling is expected by the weekend. At the beginning of next week, daytime temperatures in some countries may even drop below zero degrees. The share of wind energy in electricity production in the EU in January was 28%. The average purchase price of gas in December in Europe was 489 USD per 1000 cubic meters. m, and in January - so far about 520 USD.
The receipts of liquefied natural gas from terminals in the European gas transportation system increased in January compared to the end of December. Currently, the capacity for regasification of liquefied gas and its further injection into European pipelines is loaded at 46% of the maximum.