European Gas Storage Utilization and Injection Trends

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European underground gas storage facilities (UGS) reached an occupancy level above 93.5%, according to Gas Infrastructure Europe (GIE) and their member operators.

Injection into the storage tanks has pressed at some of the lowest rates seen in the past five months since early April. Yet, during the first ten days of September, the total injected gas climbed to a record 103.5 billion cubic meters.

The EU has previously shown a peak occupancy level for underground storage, hitting 97.86% four years ago.

In August, authorities reported that total gas reserves in the European Union rose to a monthly high, with storage facilities at 92.8% full.

Even as injection rates into UGS slowed to their weakest pace since 2011 in August, Gazprom continued to move gas westward, delivering 42.4 million cubic meters per day to Europe via routes through Ukraine.

Earlier analyses have pondered how long oil might remain a primary energy source on the world stage.

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