According to GIE, gas injection into EU underground gas storage facilities on September 15 amounted to 267 million cubic meters

MOSCOW, September 17. /TASS/. Europe continues to import record volumes of liquefied natural gas (LNG), with deliveries to the region exceeding 64 billion cubic meters since the start of the summer season in April, according to data from Gas Infrastructure Europe (GIE).

Since the start of the summer season, net gas injection (the difference between injection and withdrawal) into European underground gas storage facilities has amounted to only about 52 billion cubic meters of the 61 billion cubic meters needed to fill them 90% by the coming winter.

According to GIE, gas injection into EU underground gas storage facilities on September 15 amounted to 267 million cubic meters. Withdrawal has decreased to 15 million cubic meters. The total volume of fuel in underground gas storage facilities is only the seventh-highest for July on record - 89 billion cubic meters of gas.

Currently, European underground gas storage facilities are 80.83% full (6.5 percentage points lower than the average for this date over the past five years), compared to 93.4% a year earlier.

According to new European Commission requirements, EU countries must ensure that their storage facilities are 90% full of gas between October 1 and December 1 of each year. In addition, 10% flexibility is allowed in the event of difficult filling conditions. This requirement provides an additional impetus for gas prices on the European market.

TASS calculations indicate that net gas injection by Europe during the underground gas storage filling season must be at least 61 billion cubic meters to meet the filling standard. This is almost 50% higher than the net injection a year earlier and one of the highest figures in history.

Earlier Gazprom predicted Europe would face difficulties filling its storage facilities for the winter. Last summer, countries in the region needed more gas to replenish reserves, and with limited new capacity coming online, they are now competing for liquefied natural gas (LNG) with Asia, whose demand for the fuel is growing. The Gas Exporting Countries Forum expected the EU to face significant difficulties filling its underground gas storage facilities to 90% capacity by winter and predicted that summer gas exchange prices would be higher than in the winter, undermining the economic viability of pumping gas into storage.

The weather in Europe this week is slightly warmer than during the previous seven-day period. The share of wind generation in the EU's electricity output averaged 14% in August, compared to about 18% in September. The average gas purchase price in Europe in August of this year was approximately $394 per thousand cubic meters, compared to about $392 in September.

During the past heating season, Europe imported almost 63 billion cubic meters of LNG, the third-highest volume for the period. A larger volume of regasified gas entered the EU gas transmission system from LNG terminals only in the previous two winter seasons.

European LNG imports in June reached their highest level for the month (12.2 billion cubic meters), but then lost their record pace, which began to increase again with the onset of autumn. Regasification capacity is currently operating at 51% of its maximum capacity.

Europe imported over 64 bcm meters of LNG since start of summer season