Natural gas withdrawal from European underground gas storages (UGS) continued declining amid warm weather and was the lowest over the last decade, according to Gas Infrastructure Europe (GIE) data.
Gas withdrawals from European UGS on Friday were just 136.6 mln cubic meters, the record low since 2012. At the same time, injection was above withdrawals for the second day in a row and totaled 295.6 mln cubic meters.
Total gas withdrawals from European storages stood at 15.63 bln cubic meters in December 2021, the fourth result for this month during GIE monitoring period since 2021.
Filling of European UGS moved up to 55.93% and amounts to 60.38 bln cubic meters, 20.6 bln cubic meters lower than in the last year.
Gas prices in Europe adjusted in late days of 2021 on the back of resumed wind generation in Europe and reports that the pool of tankers carrying liquefied natural gas from the US to Europe increased by a third. The gas-in procedure for the second string of the Nord Stream 2 ended on December 29. Gas prices dropped on Friday below $800 per 1,000 cubic meters for the first time since November start.
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