Europe starts pumping gas into storages, stocks now at highest in five years
For the first time in 2023, Europe started pumping gas into Underground Gas Storage (UGS) on a working day (Photo:АТ Укртрансгаз)
Inventories in European Underground Gas Storage (UGS) have increased by 0.03 percentage points for the first time on a business day in 2023.
Europe's UCS facilities are currently 55.62% full, which is 21% higher than the average indicator for this period of time over the past five years, Gas Infrastructure Europe (GIE) reported.
Benchmark wholesale gas prices in Europe fell to about $460 per thousand cubic meters as of March 24. That’s a decrease of 4.4 % compared to the previous day, when the day-ahead contract at the TTF hub in the Netherlands closed at $481 per thousand cubic meters.
The Ukrainian gas transmission system (GTS) reported the Russian gas operator Gazprom’s incoming request for transferring of 42.4 million cubic meters for March 24. The similar request for March 23 was 42 million cubic meters. The capacities were declared only for one of the two GTS stations, namely Sudzha gas metering station. The application was not accepted for the corridor through the Sohranivka gas distribution system.
It has been reported earlier this week that gas prices reached their minimum for 600 days of $434 per thousand cubic meters.
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