In the first 17 days of May, the rate of gas injection at UGS facilities was 43% higher than the average over the past five years.
Natural gas reserves in underground storage facilities in Europe continue to grow and have already exceeded 40%. Interfax reported this with reference to data from the Gas Infrastructure Europe association on Friday, May 20.
So far, reserves are 41.23%, growth over the previous day – 0.34%. The current level of stocks at UGS facilities in Europe is 3.4% behind the five -year average.
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It is indicated that in April the injection was constrained by high prices for imported gas – but by the beginning of May, it is possible to increase its speed. In the first 17 days of May, the rate of gas injection at UGS facilities was 43% higher than the average for the last five years (in April, the excess was only 12%).
At the same time, as market prices decline, LNG imports to Europe in May began to decline slightly relative to historic record levels in April. During that time, 10.651 billion cubic meters were received from LNG terminals in Europe’s gas transportation system. m, or 355 million cubic meters. m per day. As of the most recent reporting date, May 17, the utilization level of regasification capacities of European terminals was 67%, which is far from the highest 77% passed at the end of April.
From this year, Europe introduced strict regulation on the use of UGS. At the beginning of the withdrawal period in 2022, reserves must be at least 80% of the capacity of storage facilities, in the next – 90%.
Let us remind, this week the EU approved the plan of rejection of energy carriers from Russia. 300 billion euros will be spent for these purposes.
According to media reports, an agreement between EU countries on a phased embargo on Russia’s oil could be reached at the summit on May 30-31.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.