Gas Prices in Europe in Summer Exceed Winter Highs by Almost $100

On the European markets, the cost of natural gas reached $ 360 per thousand cubic meters and continues to grow against the background of low reserves in underground gas storage facilities (UGS), Russian media reported.

During the summer, gas prices exceeded the February high by almost $100.

The cost of gas at the NCG hub on June 14 amounted to $363.8 per thousand cubic meters, which is higher than the previous maximum indicators by more than $100.

However, according to Gazprom, Europe is lagging in terms of filling the active gas in underground storage facilities by 33 billion cubic meters. m, relative to the indicators of the previous year.

Gas Infrastructure Europe reports that of more than 66 billion cubic meters. cubic meters of gas taken in the last autumn-winter season, currently only 13.6 billion cubic meters have been replenished, which is the minimum volume for comparable periods.

The backlog in terms of the volume of active gas in the UGS facility as compared to the same date last year remains very large – 33 billion cubic meters, according to “Gazprom”.