Currently, the filling level of gas storage facilities is slightly lower than the same period last year, but it is significantly higher than the average for the last five years.
Gas reserves in the storage facilities of European countries reached 90% on August 19, allowing them to confidently enter the winter season. This result was achieved more than two months ahead of schedule, Bloomberg reported on Wednesday, August 21.
It said that while storage fill levels were slightly lower than the same period last year due to slower summer supply, they were still above the average over the past five years.
At the same time, Europe remains at risk of sudden supply disruptions. European countries are still discussing how they can replace pipeline flows from Russia after the transit agreement between Moscow and Kiev expires at the end of this year.
In addition, Norway, Europe’s largest gas supplier, has entered a major maintenance period, raising concerns among traders. As Rystad analyst Christoph Halser said, any unexpected delay or extension of maintenance periods could lead to nervousness in the market.
According to the expert, supplies from Norway play a special role, because Europe is gradually reducing the import of liquefied natural gas.
Meanwhile, gas prices have almost reached their lowest level in two weeks – 37.85 euros per MWh.
We remind you that against the backdrop of the battle in the Kursk region, gas prices in Europe jumped by 5.5%, to 38.7 euros/MWh ($445 per 1000 cubic meters), the highest value since December 2023.
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.