Underground gas storage facilities in Europe are almost 90 full%

© Freepik Company

Underground gas storage facilities in Europe are filled by almost 90%, RBC reports, citing information from the European Association of Gas Infrastructure Operators (Gas Infrastructure Europe, GIE).

On August 17, 92.5 billion cubic meters of gas were accumulated in European gas storage facilities, about 89.4% of the capacity of European underground gas storage facilities (UGS) was filled. This will allow European countries to survive the winter of 2024/2025 relatively painlessly and maintain relatively low gas prices in the range of 250-350 dollars per thousand cubic meters.

The gas storage facilities are planned to be fully filled by November 1 of this year. Filling UGS with gas at the level of 95% will allow countries to prevent a sharp jump in gas prices, as this winter promises to be cold, unlike the warm winters of 2022/2023. This is also facilitated by a 15% reduction in gas consumption in Europe.