Record Gas Injection for Underground Storage

• Financial

There are currently more than 90 billion cubic meters of gas stored underground in underground storage (UGS) throughout the European Union, which is the largest amount in history. During the past year, more than twice as much gas has been drawn out of underground storage as it has been pumped, which is an almost unprecedented amount.

As far as pumping gas has been concerned, it has been more than double what has been withdrawn from underground storage facilities in the past year; this is more than twice the amount of gas that has been pumped.

Lowest Gas Withdrawals in a Decade

As a result of the excessive heat that has been observed in Europe in recent weeks and the forecast for the next week, gas consumption is expected to decline dramatically over the course of the next week as a result of the excessive heat in Europe.

A recent report by Gas Infrastructure Europe (GIE) indicates that a total of 107.5 million cubic meters of gas were withdrawn from underground storages in the countries of the European Union on December 26 according to data provided by the operator.

This is the lowest figure for that day since 2011, when GIE was the leader in the country's record-breaking withdrawals from underground storages. Moreover, on the same day, the amount of gas injected for underground storage reached 220.5 million cubic meters, which is one of the most significant volumes ever recorded in the underground storage industry.

Heating Season in Europe

As of now, it has been 15 months since the beginning of the heating season in Europe, and in order to meet our heating requirements, the EU countries have taken out 15.42 billion cubic meters of gas from storage in order to meet our heating requirements.

According to the UGS data, the occupancy of the UGS facilities in Europe has reached 83.21 percent, which is 11.9 percentage points higher than the average occupancy of the UGS facilities on December 26 of the last five years. There is an estimated amount of gas in these reservoirs of 90.05 billion cubic meters in total.