Unawareness prevails in Europe regarding the magnitude of gas storage issues, as stated by Alexey Miller, Gazprom's management board chairman.
As the winter season approaches, concerns are mounting over the low levels of gas stored in European underground facilities. According to recent reports, only two-thirds of the gas extracted last winter has been replenished, creating a significant gap of 18.9 billion cubic meters.
This gap is larger than in any previous observation period and is causing concerns about potential gas shortages during the winter season. The current dynamics of gas injection suggest that individual European countries may find it difficult to achieve the target of 90% Underground Gas Storage (UGS) occupancy.
Alexey Miller, Chairman of Gazprom's management board, has stated that Europe is not fully aware of the scale of the problem with pumping gas into underground storage facilities. He pointed out that the problem of the regional gas balance is most clearly visible in the Baltic States, where countries like Lithuania and Latvia have the lowest natural gas storage levels. Lithuania, in particular, has the lowest fill level among them.
The average daily injection into the Inchukalna UGS, a significant storage facility in the region, is at a historically low level, jeopardizing preparations for the winter season. As of now, Germany's storage facilities are only 71.1% full, and the Netherlands' are 64.8% full.
Miller's comments come as the replenishment rate in European underground storage facilities is lower compared to the same period last year. The current rate of gas replenishment is insufficient to meet the target of 90% UGS occupancy.
These low storage levels create serious risks of gas shortages in the event of severe or prolonged cold weather. The situation with gas replenishment in European storage facilities is causing widespread concerns and is historically significant.
In light of these developments, efforts are being made to increase the pace of gas replenishment in an attempt to alleviate the potential risks of gas shortages during the winter season. However, the challenge remains significant, and the situation continues to be closely monitored.
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