European gas reserves near 90%, LNG supplies hit lowest Since November 2021

Gas reserves in European underground storage (UGS) facilities are nearing 90% capacity, with the latest data from Gas Infrastructure Europe (GIE) showing a fill level of 89.77% as of August 18.

On that day, 400 million cubic meters of gas were pumped into UGS facilities, while 9 million cubic meters were withdrawn. This current fill level is 8.09 percentage points above the five-year average for this date, News.Az reports citing foreign media.

In July, total LNG supplies to Europe’s gas transport system reached their lowest level since November 2021, and the decline has continued into August. Regasification facilities, which convert liquefied gas for pipeline transport, are currently operating at 36% of their capacity. The average gas purchase price in Europe rose from $366 per 1,000 cubic meters in July to $437 in August.

News.Az