MOSCOW: Gas reserves in European underground gas storage (UGS) facilities have approached 88.5%. Gas pumping into European UGS facilities amounted to 315 million cubic meters on August 14, according to data provided by Gas Infrastructure Europe (GIE). Meanwhile withdrawal equaled 21 million cubic meters, Russian news agency TASS reported, citing the UGS data.

European UGS facilities are currently 88.47 percent full (8.03 percentage points higher than the average as of this date in the past five years), with 97.4 billion cubic meters of gas stored in them.

Total LNG supplies from terminals to Europe’s gas transport system in July hit the lowest level since November 2021, with the trend of their decline persisting in August. Facilities for regasification of liquefied gas and its further pumping into Europe’s pipelines are loaded by 35 percent of their capacity now. The gas purchase price averaged $366 per 1,000 cubic meters in Europe in July and it has risen to $433 in August.

Source: Emirates News Agency