Europe consistently extracts over 500 MCM of gas per day from underground storage facilities

European countries continue to actively deplete their underground storage facilities (UGS), consistently withdrawing more than 500 million cubic meters of gas per day, Report informs referring to the Gas Infrastructure Europe (GIE).

Since the beginning of the heating season, withdrawal from UGS has been one and a half times higher than in 2023. Gas on the European exchange is trading at around $525 per thousand cubic meters. Gazprom is supplying gas to Europe via transit through Ukraine at a volume of 42.4 million cubic meters per day to the Sudzha gas measuring station in the Kursk region.

Gas withdrawal from EU UGS facilities on November 20, according to GIE data, amounted to 528 million cubic meters. At the same time, injection was equal to 14 million cubic meters.

European UGS facilities are 89.4% full (1.46 percentage points lower than the average for this date over the past five years), containing 99.2 billion cubic meters of gas. The total gas withdrawal from storage since the beginning of the month is the second highest for November, while injection is at its lowest since 2016.