The level of gas reserves in European storage facilities fell below 60%
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Stocks in underground gas storages (UGS) of the EU countries fell to 59.57%, which is 0.44 p.p. lower than the previous gas day, according to data from Gas Infrastructure Europe. As of March 3, the total volume of gas in UGS facilities was about 65 billion cubic meters. m.
UGS occupancy rate in the European Union is about 20 p.p. higher than the average for that date over the past five years. In the 2021/22 heating season, the occupancy rate dropped below 60% as early as 15 December.
On February 3, gas prices in Europe for the first time in 18 months ended the trading session below $500 thousand cubic meters. m. In total, according to the results of the winter period, the price of gas in European countries decreased three times, up to $515 per 1 thousand cubic meters. m. The reduction in the cost of fuel occurred against the backdrop of an abnormally warm winter in Europe.
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