Gazprom: Europe's UGS reserves at multi-year lows
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Gazprom says replenishing Europe's underground gas storage facilities by the coming winter will require pumping in at least 63 billion cubic meters of gas.
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Russian energy company Gazprom
Russian energy company Gazprom highlighted that over the past winter, Europe withdrew 51 billion cubic meters of gas from underground storage, which is 107.8% of the volume pumped there in summer, ending the season on March 19 at one of the lowest levels in terms of reserves in many years.
Gazprom indicated on Telegram that "By this time, only 25.2 billion cubic meters of active gas remained in them. This is one of the lowest levels over the long-term observation period and by 5.5 billion cubic meters less compared to the same date in 2021."
"During the past winter season, 51 billion cubic meters of gas were taken from European UGS facilities, that is 107.8% of the volume that companies were able to pump in the summer of 2021," the company said.
It pointed out that replenishing Europe's underground gas storage facilities by the coming winter will require pumping in at least 63 billion cubic meters of gas, but even that is a very ambitious goal.
"Even to reach the level of 90% storage capacity, which is declared as the target in the European Union, it is necessary to pump in 63 billion cubic meters of gas. However, this is very ambitious," Gazprom said.
"In recent years, such a volume has not been pumped in a season, and it is not enough to guarantee the consumption peaks in the event of an abnormally cold winter," it added.
Cost of gas for Germans will increase
In the same context, the German portal immobilienscout24.de underscored Friday that the cost of gas for German citizens will increase in 2022, with the annual extra gas cost estimated at $650 for a 70 square meter apartment.
Citing the German Association of Energy and Water Industries, the portal noted that the increase was assessed before the start of Russia's military operation in Ukraine, so "it is unlikely that the price rise is final."
The portal advised Germans to start putting aside small amounts of money every month for upcoming additional payments and to save energy by insulating windows and installing smart thermostats.
