Europe & Russia: Storage

August 2017

Storage levels in some of Europe’s largest gas markets are low for the time of year, while restocks in Ukraine have soared ahead.

Storage facilities in Germany are around 70% full compared with approximately 84% at the same time last year. Although restocks have been strong, their pace has failed to push up storage volumes to the levels seen in August 2016. Stock levels before last winter were strong and the drawdowns during the winter period were not as severe as they have been in recent years – such as in the spring of 2013, when stock levels at major storage facilities across the region plummeted. Storage levels in France are also down on an annual basis this year, as they are across Europe as a whole. Of the largest markets in the region, Spain and Italy are in a stronger position for late summer, with gains being made year on year.