Volume of European gas reserves reached 83.5 percent

By Alimat Aliyeva

Currently, the volume of natural gas reserves in underground gas storage facilities in Europe has reached 83.5 percent, Azernews reports.

According to the Gas Infrastructure Europe Association, as of July 23, gas extraction from storage facilities in the European Union amounted to 39 million cubic meters, and gasification - 274 million cubic meters. Currently, there are 91.6 billion cubic meters (83.37 percent) of gas in Europe's underground storage facilities, which is 9.63 percent more than the average for the same period of the last five years.

The weather was relatively cool in Central and Western Europe this week, with wind power accounting for 12 percent of EU electricity production in July.

Currently, the price of a thousand cubic meters of gas on the London ICE exchange is about $360.

The Russian company Gazprom supplies 42.4 million cubic meters of gas per day to Europe. Despite the war, this gas is supplied to the "old continent" in transit from the territory of Ukraine. This line remains the only route for Russian gas supplies to the countries of Western and Central Europe after the failure of the Nord Stream gas pipeline.

Also in June, LNG injection from terminals into Europe's gasification system fell to 37 percent of maximum capacity, which is the lowest since November 2021.