Business · Energy & Commodities · 8 hrs ago
Europe withdraws 5% of summer-injected gas from storage in 10 days
A cold snap has sped up Europe’s gas withdrawals since the heating season began on October 28.
The withdrawals are from underground gas storage facilities across Europe, which countries filled before winter.
In the first 10 days after storage reached its autumn peak, net withdrawals were more than three times the five-year average for that period.
Countries had used 5% of the gas injected over summer by net withdrawals, according to calculations based on Gas Infrastructure Europe data.
On November 6, storage was 72.98% full, the lowest level recorded for that date since 2011.
The European Commission asks EU members to have storage 90% full between October 1 and December 1, with flexibility when filling conditions are difficult.
The Commission was prepared to lower the target to 80% for this year, expecting a very mild winter.
Europe withdrew a net amount of more than 2 billion cubic meters of gas from storage in the first 10 days of the heating season.
That was 5% of the 51.2 billion cubic meters injected over the summer.
A cold snap drove withdrawals to a pace 2.2 times the five-year average for the period.
As of November 6, European storage facilities were 72.98% full, the lowest level recorded for that date since tracking began in 2011.
- Who
- European countries withdrew gas from underground storage facilities.
- What
- Europe withdrew a net amount of more than 2 billion cubic meters in 10 days, equal to 5% of summer injections.
- When
- In the first 10 days of the heating season, which began on October 28.
- Where
- Underground gas storage facilities in Europe.
- Why
- A cold snap forced Europe to increase gas withdrawals. Reserves were already at historically low levels.
This story does not have two clearly opposing sides.
European countries injected 51.2 billion cubic meters of gas into storage in preparation for cold weather.
The heating season began as European storage facilities reached their autumn peak fill level of 74.96%.
European storage facilities were 72.98% full, the lowest level recorded for this date since tracking began in 2011.
TASS reported that net withdrawals since the heating season began had exceeded 2 billion cubic meters.
- Net withdrawals
- More than 2 billion cubic meters in 10 days
- Share of summer injections withdrawn
- 5% of 51.2 billion cubic meters
- Autumn peak fill level
- 74.96%
- Storage fill on November 6
- 72.98%
- Difference from five-year average on November 6
- 16.63 percentage points lower