On the eve of January futures for gas at the TTF hub in the Netherlands fell below $850 for the first time since February 22.
Gas reserves in the underground storage facilities (UGS) of the EU countries once again exceeded 90 billion cubic meters. m against the backdrop of a record injection. This continues to more than double the departure from UGS facilities, which was at a historical low for the end of December. This was confirmed by the data of the association Gas Infrastructure Europe (GIE) on Wednesday, December 28.
So, on December 26, the removal of gas from UGS facilities in EU countries reached only 107.5 million cubic meters. m (the lowest number for this day for the entire period of GIE observation since 2011), while the injection of them was 220.5 million cubic meters. m.
The European heating season began on November 14, and since that moment, EU countries have taken 15.42 billion cubic meters from storage facilities. m of gas. Today UGS facilities in Europe are filled to 83.21% (11.9% higher than the average for this date in the last five years), they contain 90.05 billion cubic meters. m of gas.
At the same time, the current week promises to be as hot as last week. Temperatures will exceed climatic norms in late December in many European countries.
On the back of warm weather, Europe is reducing the flow of liquefied natural gas (LNG) from terminals into the gas transmission system, falling to the lowest since early November. The regasification capacities of liquefied gas and its additional injection into pipelines in Europe are now loaded at 59% of the maximum.
The average purchase price of gas in December decreased to $1,360 per 1,000 cubic meters. m. And on December 27, January gas futures at the TTF hub in the Netherlands fell below $850 for the first time since February 22.
It will be recalled that on December 19, EU countries reached an agreement on setting a gas price limit of 180 euros per MWh, or approximately 1,850 euros per thousand cubic meters. The Kremlin called this decision “unacceptable.”
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.