Gas reserves in Europe’s underground storage (UGS) facilities have fallen to around 36% for the first time in over three years, according to Gas Infrastructure Europe (GIE).
The decline comes as colder temperatures slow down gas injection, with net withdrawals since the start of the heating season surpassing 65.5 billion cubic meters (bcm), News.Az reports, citing TASS.
Gas withdrawal from UGS facilities in EU countries amounted to 324 mln cubic meters (mcm) on March 11, according to GIE. Pumping has fallen to 34 mcm. Gas volumes in UGS facilities total 40.2 bcm, which is the sixth-highest level for early March since records started.
European UGS facilities are currently 36.23% full (10.47 percentage points lower than the average as of this date in the past five years). The heating season in Europe started on October 29, 2024, with EU countries having withdrawn over 70 bcm of gas from UGS facilities since then.
The share of wind generation in the EU’s electricity output averaged 13% in February, and it has been at 16% in March. The gas purchase price averaged $542 per 1,000 cubic meters in Europe in February, and it has equaled around $463 in early March.
