The European Union's gas storage facilities were filled at 25.8% of capacity or about 27 billion cubic meters, as of March 25, according to the fresh data from the Gas Infrastructure Europe (GIE)
BRUSSELS (Pakistan Point News / Sputnik - 28th March, 2022) The European Union's gas storage facilities were filled at 25.8% of capacity or about 27 billion cubic meters, as of March 25, according to the fresh data from the Gas Infrastructure Europe (GIE).
Portugal (77.5%), Sweden (66.6%), and Poland (63%) are topping the list of the EU countries with most reserves as of the end of March, while Croatia (16.5%), Belgium (14.4%), and Austria (12.4%) are down on the list.
According to the European Commission, the EU has a total of 160 gas storage facilities, with 73% of the storage capacity concentrated in five countries: Austria, France, Germany, Italy, and the Netherlands. Since March 19, the volumes of gas have been increasing daily by 0.01-0.09% in the EU storage facilities.
Last year, the EU storage gas reserves estimated at nearly 30%, in 2020 - about 55%, in 2019 - about 41%, and 19% in 2018.
Natural gas prices were surging on the European market late last year, spurred by growing energy demand amid an economic recovery after months of lockdowns, as well as a limited supply. This has prompted the EU authorities to redouble efforts toward ensuring the bloc's energy security, the need for which has become even more pressing during the conflict with Russia, the EU's main energy supplier, over the latter's military operation in Ukraine.
Amid crippling global energy shortages, prices spiked further on Wednesday with gas futures topping $1,400 after Russian President Vladimir Putin instructed national energy giant Gazprom to change existing gas contracts to enable payment in rubles.
