GIE: Gas stocks in European storage fell below 60 percent
The occupancy rate of European underground gas storages (UGS) has fallen again. On Sunday, March 5, reports RIA News with reference to the data of the Association of Gas Infrastructure Operators of Europe (Gas Infrastructure Europe, GIE).
It is specified that at the end of the gas day on March 3 (08:00 Moscow time on March 4), the storage facilities were filled by less than 60 percent – by 59.57 percent, which is 0.44 percentage points lower than on the previous day. Thus, at present, the total volume of gas in European UGS facilities is estimated at 65 billion cubic meters.
As noted, this figure is almost 20 percent higher than the average values for this date over the past five years. Thus, in the 2021-2022 heating season, the filling level of gas storage facilities fell below 60 percent as early as December 15.
Earlier in March, it was reported that the price of gas in Europe fell three times over the winter, to $515 per 1,000 cubic meters. So, if on November 30, gas futures were trading at $1,550 per 1,000 cubic meters, on February 28, trading closed at $515.
#Gas #stocks #European #storage #facilities #fallen