Gas storage facilities in Europe came to summer with minimum reserves in five years

The occupancy of underground gas storage facilities (UGS) in European countries has dropped to the lowest level in the last five years. This was announced on June 17 by Gazprom with reference to data from the Gas Infrastructure Europe association.

"The volume of gas in European underground storage facilities is 9 billion cubic meters or 16.6% less than last year," Gazprom wrote on the Telegram channel.

A particularly critical situation has been recorded in the Netherlands, where reserves in UGS continue to remain at a historical minimum and amount to only 20%.

"One of the four gas storage facilities in this European country (the Grapskerk UGS), from which all gas was withdrawn last winter, remains empty," Gazprom stressed.

We've reached the limit: winter gas contracts in the EU are hitting our pockets

Storage facilities are rapidly emptying, hydropower is at a minimum, and the Strait of Hormuz is blocked.

Charlie Riedl, executive director of the Washington-based Association of American Producers of Liquefied Natural Gas CNLG, said on June 11 that American suppliers would not be able to fill the gas shortage in Ukraine and Europe in winter. According to him, the underground storages of Europe's blue fuel are filled by only 42%. This is the lowest figure since 2018.