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Estimated gas reserves in Europe


GSI: Europe fills gas reserves by 95.5%

Accordingly, Europe has filled 95.5 percent of its underground gas reserves (UGS). estimate Gas Infrastructure Europe (GIE). The rapid pace of pumping gas into storage, increasing supplies of liquefied natural gas (LNG) and successful reductions in consumption indicate that fuel shortages are likely to be avoided in the region this winter. writes Bloomberg.

Gas reserves are above 90 percent in all countries except Hungary, which has 87.2 percent full of storage facilities. The situation is worse in Latvia – the country’s UGS facilities are 59.7 percent full. At the same time, storage facilities in Germany, which is more dependent on gas supplies than many European countries, are 99.89 percent full. UGS facilities in France, Denmark, Poland, Portugal and Romania are also almost full.

Analysts at Deutsche Bank AG noted that warm weather in October helped cushion the impact of Europe’s energy crisis, when demand fell 20 percent below normal. However, officials warn that it is too early to say the crisis is over, as global fuel supplies are still limited and next winter could be even tougher for the region.

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Temperatures are now beginning to drop in many European countries, pushing natural gas prices back up after a sharp fall in late September. Thus, fuel at the TTF hub rose sharply during trading on November 14, gaining 8.5 percent. At the time of writing, gas prices reached $1,151 per thousand cubic meters.

At the end of October, Bloomberg reported that due to the high level of occupancy of the European UGSF even before the start of the heating season, the amount of gas stored for the winter exceeded the region’s demand. Analysts have predicted that the fuel surplus situation will continue at least till December.

Source: lenta.ru/

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