Gazprom: Europe will need to pump 54% more gas into underground storage than last year
MOSCOW. March 22 (Interfax) - Gas reserves in European underground gas storage (UGS) facilities are down to 31% amid a cold March, and the volumes remaining as of March 21 are 24.5 bcm less than in the same period of last year, Gazprom said, citing Gas Infrastructure Europe.
"Furthermore, in the majority of countries which are in the top-5 in terms of gas storage volumes in Europe, reserves fell below 30%: they fell to 26% in Germany, 24% in the Netherlands, 18% in France, and 29% in Austria," the company said.
"Offtake from European UGS facilities by consumers totals 64.2 bcm of gas. In order to replenish this volume, at least 54% more gas must be pumped into storage than last year. We should note that offtake from storage is continuing. As such, in the summer period, Europe will require a significant amount of addition gas," Gazprom said.