The withdrawal of gas from underground gas storage (UGS) in Europe again exceeds the injection into the system. The consumption rate in March is 28% higher than the values for 2024 and is higher than the average for the entire observation period since 2011.
The withdrawal of gas from UGS in EU countries on March 29, according to GIE, amounted to 93 million cubic meters. Injection increased to 173 million cubic meters. m. Against the background of the high rates of consumption of gas reserves during the heating season, the total volume of fuel in the underground gas storage is only the sixth highest for March for the entire observation period - 37.3 billion. cubic meters of gas.
The last season of gas withdrawal from European underground storage facilities ended on March 31, 2024, when 58.44% of the reserves remained in them (a record for the entire monitoring period). Currently, UGS in Europe are filled at 33.69% (11.43 percentage points lower than the average for this date for the last 5 years), which in relative terms is already lower than the figure not only at the end of the last autumn-winter period, but also at the end of the heating seasons 2010-2011, 2011-2012, 2013-2014, 2015-20 16, 2018-2019, 2019-2020 and 2022-2023.
This week in Europe is expected to be quite warm, but a cold snap may occur in the central part of the region over the weekend. The share of wind energy in electricity production in the EU is on average 13% in February and 17% in March. The average price for purchasing gas in Europe in February this year was about 542 USD per 1000 cubic meters, and in March - about 468 USD.
LNG deliveries from terminals to the European gas transportation system in March were at a record pace for this month. Currently, the capacity for regasification of liquefied gas and its subsequent injection into European pipelines is loaded at 52% of its maximum.