Gas reserves in the EU this winter have declined much faster than last year, writes UNN citing DW.
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Gas storage facilities are only 58.5% full, cites AFP data from the European Gas Storage Platform (Agsi). Last winter, the EU's gas storage fill level was 74 percent.
In Germany, gas storage is 61% full, in Italy almost 68%, France recorded one of the lowest figures in the EU - around 42%. The situation is worse only in Croatia, where the fill level is slightly lower.
The current level of gas storage filling in the EU does not yet pose a direct threat to gas supply, but EU countries, according to calculations by the International Energy Agency (IEA), will have to purchase significantly more gas than in the summer of 2023 and 2024 to replenish stocks for the next winter season.
One of the reasons for the reduction in gas reserves was the "colder and less windy weather", which led to a decrease in wind power generation, explained Mike Fulwood of the Oxford Institute for Energy Studies. In addition, at the beginning of the year, the contract for the transit of Russian gas through Ukraine, which was previously delivered through Ukrainian pipelines to Europe, expired. This particularly affected Austria, Slovakia and Hungary, which were still actively purchasing Russian gas.
Gas prices in Europe have recently risen. The Dutch TTF contract, which is considered the benchmark, was 51 euros per megawatt-hour on January 22 - the highest since October 2023. On the morning of January 23, the price was 50.29 euros per megawatt-hour.