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Economics & Business News

Gas withdrawal from European storage facilities on December 21 became a record

Gas withdrawal from underground storages in Europe on December 21 amounted to 762 million cubic meters, this is a record figure since the beginning of the heating season, as well as a record level for this day for the entire observation period. This was reported by Kommersant with reference to data from Gas Infrastructure Europe (conducted since 2011).

It is noted that the filling of European storage facilities decreased to 62.9 billion cubic meters (58.3%), which is 22 billion cubic meters less than in 2020.

In the past few days, gas futures prices in Europe have risen markedly. On December 21, the price of gas futures for January for the first time in the entire history of observations approached $ 2200, thereby updating its all-time high.

On the eve of the price of gas at European exchange auctions fell below the level of $ 2000 per 1,000 cubic meters after a sharp rise on December 21. The leaps took place against the backdrop of Gazprom's decision not to book the capacity of the Yamal-Europe gas pipeline for the second day in a row. The expert suggested that Europe does not need additional supplies due to the fall in demand before Christmas.

Gas withdrawal from European storage facilities on December 21 became a record