The gas reserve level in underground storage facilities across Europe is at a peak not seen before in the records we rely on. Interfax reported this milestone, drawing on data from European Gas Infrastructure (GIE).
Stocks in storage rose by a mere 0.12 percentage points after August 28, according to GIE figures. That is the smallest uptick of the entire injection season since spring. Yet as the heating season approaches, the occupancy rate in UGS surpassed the 90 percent target, reaching above 92 percent of full capacity. As a result, the pace of new injections has slowed to a crawl.
Information from the Ukrainian gas transit operator shows Gazprom has filed for a transit of 42.4 million cubic meters on August 30, following the prior day’s schedule. The request appeared at a single entry point, the Sudzha pipeline outlet.
WindEurope notes that wind farms supplied about 10 percent of Europe’s electricity demand on August 29, a performance level that aligns with long-term expectations for wind contribution. Meanwhile, the European gas market saw a 9 percent drop in spot prices, with gas trading around 396 dollars per thousand cubic meters on August 29, according to TTF data.
The US Department of Energy’s latest briefing indicates that inventories grew by about 0.5 billion cubic meters from the previous week, roughly a third of what is typical for this stage of injection season. In a North American context, this slower build highlights the volatility and the importance of storage management for US and Canadian consumers as winter approaches.
Reports suggest the European Union has continued to increase LNG inflows from Russia despite recent sanctions, a trend that has raised questions about supply resilience and diversification for North American markets and policymakers.
In political developments, a statement attributed to Germany’s Chancellor Olaf Scholz hinted at the possibility of winding down Nord Stream operations, a move with implications for gas routes and regional energy security in North America as well as Europe.