Gas reserves in Europe fell to 60.62%, but remain record-breaking for this time of the year – 65.82 billion cubic meters. m of gas.
European countries increased gas extraction from underground storage facilities (UGS) by 47% above average multi-year values and at the maximum in five years. This was confirmed by the data of the association Gas Infrastructure Europe (GIE) on Friday, March 3.
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On the gas day of March 1, 582 million cubic meters were pumped out of European UGSFs. This figure is not only the maximum for this day in the past five years, but more than any value for the entire period of GIE observation since 2011, except for March 1, 2018. At the same time, the injection is at the level of 17 million cubic meters. m.
Gas reserves in Europe fell to 60.62%, but remain record-breaking for this time of year – 65.82 billion cubic meters. m of gas. This is 21.46% higher than the average for this date over the past five years.
The European heating season began on November 14, and since that moment, EU countries have taken 43.24 billion cubic meters from storage facilities. m of gas. At the same time, the total gas withdrawal from the UGS facilities on the 108th day from the moment of reaching their maximum filling was 12.23% lower than the average value for that day in the previous five years. The last season of gas extraction from European underground storage facilities ended on March 19, 2022, when only 25.5% of reserves remained in them.
The current week in Europe appears to be colder than the previous one, which has already led to an increase in the removal of gas from storage facilities. Temperatures in many EU countries are at the level of climate standards. The average share of wind generation in EU electricity generation in February was below the level of the previous year and reached almost 16%.
Europe increased the flow of LNG from terminals to the gas transmission system to the maximum since the beginning of December. The regasification capacities of liquefied gas and its additional injection into European pipelines are now loaded at 74% of the maximum. The average purchase price of gas decreased to $583 per 1,000 cubic meters in February. m. In general, following the results of the winter, the price of gas in Europe dropped three times.
Earlier it was reported that Europe ended this winter with record gas reserves in storage.
It was also found that in 2022 gas consumption in Europe will decrease by 13% or more than 70 billion cubic meters. m. This is the region’s strongest decline in demand in history.
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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.