Currently, Europe’s underground gas storage facilities contain 107.75 billion cubic meters of gas; This is 8.54 percentage points higher than the average of the last 5 years. Europe’s underground gas storage facilities are 97.89% full, data shows Gas Infrastructure Europe.
This is an absolute record of occupancy over the entire monitoring period. The European Commission has set a target of reaching this reserve level only by November 2023. The International Energy Agency has previously warned that existing gas reserves in Europe may not be enough throughout the winter if Russia stops supply completely.
The launch of a special operation in Ukraine and the sanctions imposed in response forced EU countries to actively increase reserves in underground storage facilities in order to provide themselves with fuel for the winter period. This made it possible to achieve record high UGS storage capacity.
The other day, expert Davide Tabarelli from Italy, said About the impact on pricing of Russian gas in the EU. According to him, the fact that gas storage facilities in Italy are 97 percent full is a positive thing, but if the winter is cold, additional imports and purchases will be needed. The expert stated that without Russian gas and due to high demand, Europe will have to switch to portioned consumption.
Previously in Russia in the name The limit of possible increases in gas prices in the EU.