Moscow, March 13, (V7N) – Data from Gas Infrastructure Europe (GIE) reveals that gas reserves in Europe's underground gas storage (UGS) facilities have fallen to approximately 36%, marking a three-year low. This decline coincides with a decrease in pumping into UGS facilities due to a drop in temperatures across the continent. Since the start of the heating season, net withdrawal from European UGS facilities has exceeded 65.5 billion cubic meters (bcm).

On March 11, gas withdrawal from UGS facilities in EU member states reached 324 million cubic meters (mcm), according to GIE. Conversely, pumping into these facilities decreased to 34 mcm. The total gas volume held in UGS facilities now stands at 40.2 bcm, the sixth-highest level recorded for early March.

Currently, European UGS facilities are filled to 36.23%, which is 10.47 percentage points below the five-year average for this date. The heating season in Europe commenced on October 29, 2024, during which time EU countries have withdrawn over 70 bcm of gas from UGS facilities.

In terms of energy sources, wind generation accounted for an average of 13% of the EU's electricity output in February and has increased to 16% in March. The average gas purchase price in Europe was $542 per 1,000 cubic meters in February and has since decreased to approximately $463 in early March.

Liquefied natural gas (LNG) supplies from terminals to Europe's gas transport system reached record levels last month. Currently, facilities for the regasification of LNG and its subsequent distribution through Europe's pipelines are operating at 54% of their capacity.

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