Gas reserves in Europe drop to a record level for mid-February

By Rhod Mackenzie

According to data from the Association of Gas Infrastructure Operators of Europe (Gas Infrastructure Europe, GIE), gas reserves in European underground storage facilities (UGS) currently stand at a record 67.87% or 73.7 billion cubic meters as of mid-February.
Since the start of the gas withdrawal season in early November, gas storage facilities have decreased by 36.6 percentage points. As of February 12th, European storage facilities are 67.87% full, which is 15.3 percentage points higher than the average for this date over the past five years.

The total volume of gas in storage is now approximately 73.7 billion cubic meters. This represents an increase of 16.8 billion cubic meters compared to the average for this date in the previous five years, and 1.5 billion more than last year.

European consumers have purchased approximately 37 billion cubic meters of gas in the three months since the start of the heating season. The capacity level of underground gas storage facilities decreased by 17.8 billion cubic meters over the past month.