European UGS facilities are rapidly filling up

Gas reserves in UGS facilities in Europe exceeded 40%; in the first half of May, the injection rate was 43% higher than the five-year average.

An increase in natural gas reserves in European underground storage facilities is reported by Interfax, referring to data from Gas Infrastructure Europe today, 20 May.

Over the past day, the growth of reserves amounted to 0.34%, and the total amount reached 41.23%. In April, high prices held back the pace of gas injection (the excess of 5-year indicators was only 12%), but this month they managed to increase. UGSF filling rate is 43% higher than the average for the last five years.

With market prices falling, LNG imports to Europe in May begin to decline slightly to the level of the historical record in April. At that time, 10.651 billion cubic meters were accepted from LNG terminals to the gas transportation system of Europe. m, or 355 million cubic meters. m per day. As of the latest reporting date, May 17, the level of utilization of the regasification capacities of Europe’s terminals is 67%, which is already far from the peak of 77% passed at the end of April.

Europe has introduced strict regulation of the use of underground gas storage facilities. By the beginning of the season in 2022, the reserves should be at least 80% of their capacity, in the next – 90%. EU this week approved the plan refusal of Russian energy carriers. It is planned to spend 300 billion euros for these purposes.

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