MOSCOW: Withdrawal of gas from European underground gas storage (UGS) facilities in January reached the highest level in four years and w...
MOSCOW: Withdrawal of gas from European underground gas storage (UGS) facilities in January reached the highest level in four years and was the third-highest for the month since records started due to cold weather and the termination of transit of Russian gas through Ukraine, according to TASS calculation based on Gas Infrastructure Europe (GIE). Total accumulated gas reserves in the EU had dropped below 54% by the end of January. Meanwhile LNG supplies from terminals to Europe’s gas transport system have decreased slightly compared with December 2024.
Gas withdrawal from UGS facilities in EU countries amounted to 21.3 bln cubic meters (bcm) in January, which is 13.5% higher than last year and the highest level in four years. This is also the third-highest level for this month since records started. Pumping of gas to UGS facilities equaled 744 mln cubic meters (mcm), which is 20% lower than in the previous year and the lowest level since 2016. Gas reserves in European UGS facilities were down at 53.59% as of January 31, 6.99 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started on October 29, 2024 (10 days earlier than in the previous autumn-winter season), with EU countries having withdrawn around 49 bcm of gas from UGS facilities since then.
The share of wind generation in the EU’s electricity generation averaged 21% in January, flat month-on-month. The gas purchase price in Europe averaged $518 per 1,000 cubic meters in Europe in January, up by 6% compared with December.
LNG supplies from terminals to Europe’s gas transport system in January decreased slightly compared with December, having reached 10.4 bcm, which is 0.7% lower month-on-month and 2.5% lower year-on-year, and they hit the lowest level for the month since 2022.
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