Moscow, September 3 (financeflashnews.com) – Russian gas producer Gazprom announced that it will send 42.4 million cubic meters (m3) of gas to Europe through Ukraine on Tuesday, maintaining approximately the same volume as the previous day. This information was reported by Reuters, citing Gazprom’s announcement.
Gas Storage Levels in the EU
In a separate report, the TASS news agency, citing data from Gas Infrastructure Europe (GIE), noted that gas storage facilities in the European Union (EU) were 92.4% full at the end of August. This is 7.66 percentage points higher than the five-year average, with 102.1 billion cubic meters of gas stored as of the end of the month. The storage levels have reached a record high ahead of the upcoming winter season.
Gas Supply and Demand Dynamics
- Gas Withdrawals: In August, gas withdrawals from European underground storage facilities amounted to 639 million cubic meters, a decrease of 25% compared to last year and the lowest level since 2015, according to TASS.
- Gas Injections: Deliveries into storage facilities during August totaled 9.2 billion cubic meters, which is 2% higher than the same period last year.
- LNG Supply Decline: Meanwhile, supplies of liquefied natural gas (LNG) from terminals into the European gas transmission system dropped to 7.16 billion cubic meters last month. This represents a decrease of 12% compared to July and a 26% decrease compared to the same period last year, according to Bloomberg. This is the lowest level since October 2021.
Summary of Key Figures
| Metric | Value | Comparison |
|---|---|---|
| Gas Sent by Gazprom (September 3) | 42.4 million m3 | Same as previous day |
| EU Gas Storage Level (End of August) | 92.4% full | +7.66% above five-year average |
| Gas Withdrawals (August 2024) | 639 million m3 | -25% year-on-year |
| Gas Injections (August 2024) | 9.2 billion m3 | +2% year-on-year |
| LNG Supply (August 2024) | 7.16 billion m3 | -12% month-on-month, -26% year-on-year |
Outlook
As Europe heads into the winter season, the high levels of stored gas provide some reassurance against potential supply disruptions. However, the reduction in LNG supplies and the continued reliance on imports through Ukraine highlight the ongoing challenges in balancing supply and demand across the continent.
Keywords: Gazprom, gas supply, Europe, Ukraine, LNG, gas storage, EU, energy, winter season
