Natural gas stocks in Europe

According to ASGI +, as of September 12, the total occupancy of European gas storage facilities (UGS) is 93.6%. Portugal has completely filled UGS facilities, Poland is close to filling its storage facilities (98.61% of the total capacity), Belgium (97.93%), France (97.15%), Czech Republic (96.96%), Italy (95.83%), Hungary (95.06%) and Germany (93.76%). The growth in stocks took place against the backdrop of weak demand during the summer period (June-August 2020) and low prices at European hubs.

Let's note the following countries in terms of gas injected volumes:

  • Ukraine – 26.68 billion cubic meters (86.75%);
  • Germany – 20.46 billion cubic meters (93.76%);
  • Italy – 18.04 billion cubic meters (95.83%);
  • France – 12.10 billion cubic meters (97.15);
  • The Netherlands – 11.59 billion cubic meters (86.72%).

All figures listed in the infographic are comparable to those of the previous year at the beginning of October. The exception is Ukraine, where the increase in stocks was more than 30% (6.6 billion cubic meters) compared to last year.

The growth of stocks was facilitated by the high occupancy of storage facilities in Europe, forcing European importers to use the capacities of Ukrainian UGS facilities to store part of the commercial gas stocks. According to GTS Operator of Ukraine, about 65% of the volumes of natural gas imported from Europe to Ukraine are intended for temporary storage, and subsequently will be re-supplied abroad.

Tags: gas, Naftogaz, contracts, hydrocarbon production, legislation, EU, energy market, UGSF, gas production, GTS, foreign affairs, heating season, Gas market, stocks, GTS Operator, Ukraine, price, Germany, agreement, gas supplies, volumes, OGTSU, infrastructure, Poland, energy sector, natural gas, Kyiv, capital, economy, gas production, gas transmission system, supplier, consumers

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