The level of gas reserves in Europe's storage facilities has fallen below 45%

Gas reserves in underground storage facilities of the European Union (EU) have fallen below 45%. This is evidenced by the data of Gas Infrastructure Europe (GIE).

As of February 15 this year, gas withdrawal from European underground storage facilities amounted to 678 million cubic meters - pumping decreased to 14 million cubic meters.

Now the European storages are 44.61% full. At the same time, the last season of gas withdrawal ended when there were 58.44% of reserves in them.

It is noted that the average price of gas purchase in December 2024 in Europe was $489 per 1 thousand cubic meters, in January this year - about $518, and in February - $583.

Unfreezing prices: why Europe is again threatened by gas shortages

The cost of blue fuel may stay at high levels for a long time to come

On February 7, it was reported that exchange prices for gas in Europe exceeded $600 per 1 thousand cubic meters for the first time since October 13, 2023. According to the data provided, since the beginning of the day, the growth amounted to more than 2.5%.

"Gazprom" on January 1, 2025 announced the suspension of Russian gas supplies to the EU via Ukraine. Slovak Prime Minister Robert Fitzo said this would have drastic consequences for the EU, but not for Russia.

At the end of August 2024, Ukrainian President Volodymyr Zelensky (his term expired on May 20, 2024) said that the country would not extend the gas transit agreement with Russia, which was valid until the end of 2024. Russian President Vladimir Putin later pointed out that Moscow did not refuse to transit gas through Ukrainian territory.