Europe ramps up gas injection into UGS for winter at high prices in early September

Europe ramps up gas injection into UGS for winter at high prices in early September As of September 5, Europe’s underground gas storage facilities were 66.59% fullMOSCOW, September 7. /TASS/. Europe decided to ramp up gas injection into underground gas storage (UGS) facilities ahead of winter at prices reaching four-year highs in late August and early September 2026 amid historically low levels of its UGS reserves, according to TASS calculations based on Gas Infrastructure Europe (GIE) data. In early September the average rate of gas injection into EU UGS facilities has been at one of the highest levels seen in recent years. That said, gas prices at European hubs have been approaching the highs of late 2022, which demonstrates the European Union’s drive to fill its UGS facilities ahead of winter even at high prices. As of September 5, Europe’s underground gas storage facilities were 66.59% full (16.58 percentage points below the five-year average for this date), compared to 79% in the previous year. This is the lowest level for this date since records began in 2011. Europe’s UGS facilities hold roughly 72.9 bln cubic meters of gas, which is 14 bln cubic meters lower than last year’s levels, and the lowest since 2013. The European Commission requests EU members to make sure their UGS facilities are 90% full between October 1 and December 1 of each year. Moreover, 10% flexibility is allowed in the event of difficult UGS filling conditions. Thus, net injection into European storage facilities by the start of the 2026-2027 autumn-winter period must reach at least 68 bcm to meet the filling standard. Since the beginning of April, Europe has managed to inject a total of 62% of the volumes needed for the upcoming winter, or 42 bln cubic meters, into its UGS facilities. 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