This happens against the backdrop of warm weather in the region, a high proportion of wind generation and reduced gas consumption over the weekend.
For the second day in a row, gas injection into underground storage facilities (UGS) in Europe exceeded their withdrawal due to the approaching end of the heating season. This was confirmed by the data of the association Gas Infrastructure Europe (GIE) on Tuesday, March 21.
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Thus, on the gas day of March 19, the withdrawal from underground storage facilities reached only 100 million cubic meters. m. At the same time, the injection reached 126 million cubic meters. m, which exceeded the selection from storage facilities for the first time since the beginning of this year, when abnormally hot weather was observed. This happens against the backdrop of warm weather in the region, a high proportion of wind generation and reduced gas consumption over the weekend.
The European heating season began on November 14, and since that moment, EU countries have taken 49.25 billion cubic meters from storage facilities. m of gas. At the same time, the total removal of gas from underground storage facilities on the 126th day from the moment they reached their maximum filling was 16.3% lower than the average value for the day that in the last 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.
Today UGS facilities in Europe are filled to 55.75% (20.89% higher than the average for this date in the last five years), they contain 60.59 billion cubic meters. m of gas.
The current week in Europe as a whole is expected to be warmer than the previous one. Temperatures in many EU countries will exceed climatic standards. The average share of wind generation in EU electricity generation in March was around 18%.
LNG flows from terminals to the European gas transmission system are growing again against the backdrop of the resumption of LNG terminals in France after the end of strikes. Today the regasification capacity of liquefied gas and its additional injection into European pipelines is loaded at 58% of the maximum.
The average purchase price of gas in March decreased to $496 per thousand cubic meters. m. On March 20, it dropped to $430 for the first time since the end of July 2021.
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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.