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Gas reserves in European UGS facilities at a minimum in 10 years

Photo: AR (archive photo)

European gas injection season ends October 1

The gas storage facilities in Austria, the Netherlands and Portugal are the least filled, according to data from the European Gas Infrastructure Association.

Gas storage facilities in the EU and the UK are on average 72% full as of September 22. This is the lowest figure in the last 10 years. Reuters Thursday, September 23rd.

It is indicated that in 2020 on this date, European storages were filled by 94%, and over the past 10 years – by 84% on average. The gas injection season in Europe ends on October 1, and by this time the storage facilities will be filled to a maximum of 78%.

The main reason for underfilling ahead of the heating season is the emptying of storage facilities last winter due to strong demand, exacerbated by relatively weak renewable energy production and high basic demand for electricity, explained James Huxtepp, EMEA gas analyst manager at S&P Global Platts.

“Demand for electricity and gas has also been strong in Asia, which is withdrawing liquefied natural gas (LNG) from Europe. This is coupled with a global supply crisis and limited pumping this summer, resulting in record low stocks at the start of the heating season,” he said.

As a result, gas prices in the UK and at the Dutch TTF hub – a key European gas market – have jumped to record levels.

Also among the main factors that influenced the rise in gas prices over the past two months were supply disruptions from Russia and the global shortage of LNG. Deliveries from both sources will remain relatively small for the rest of the year, regardless of any launch scenario for Nord Stream 2, James Huckstepp predicts.

According to the European Gas Infrastructure Association (GIE), the gas storage facilities in Austria are the least filled – by 50.44%. The Netherlands (54.43%) and Portugal (58.17%) are also in the top 3 in terms of minimum storage capacity. This is followed by Slovakia (63.83%) and Germany (64.57%).

At the same time, storage facilities in Great Britain are filled by 91.71%, in France – by 89.6%, and Poland is the leader in terms of occupancy – 96.23%.

Earlier, the United States said that in the upcoming heating season, European countries may face the need distribution of gas by quotas due to its scarcity. Also USA promised to help Europeans deal with gas shortages.

In turn Gazprom estimates the volume of gas deficit in Europe… The EU will not have time to catch up with the gap in gas injection into UGS facilities, which reach almost 23 billion cubic meters, says the head of the concern, Alexey Miller.

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