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Gazprom notes minimum volume of active gas in European storages for end-July in years

02 August 2021 15:53 (UTC +04:00)

The volume of active gas in European underground storage facilities is at the minimum level for the end of July in years, Russia’s gas producer Gazprom said in a statement on Monday, APA reports citing TASS.

"According to the data of Gas Infrastructure Europe as of July 31, the rate of utilization of European and Ukrainian underground gas storage facilities before the last summer month remains extremely low," the holding said. Particularly, in European underground storage facilities out of 66 bln cubic meters of gas taken during last season only 27.6 bln cubic meters have been replenished. The gap to the level of reserves as of the same date last year equals 27.9 bln cubic meters, whereas in Germany storage facilities are only around half full.

In Ukrainian underground storage facilities, the pumping gap to last year is also rising, having already reached five bln cubic meters, according to the statement.

The low rates of pumping into European underground storage facilities are pushing prices up, Gazprom noted.