Europe & Russia: Storage
Gas storage levels have fallen in Europe and Ukraine, and in major markets they are down on an annual basis ahead of the peak of winter.
Europe had around 783 TWh of gas in storage in mid-December, with facilities around 74% full, according to data from Gas Infrastructure Europe. Stock levels in Europe have dropped by around 17% since the start of November and are down on an annual basis in most major markets – including Germany, France and Italy. A cold snap that hit the region in mid-December and supply disruptions in Norway and at the Baumgarten hub in Austria supported the use of storage gas. French stocks are down by around 19% on an annual basis and are roughly 21% below the three-year average for the time of year. This puts the country in a weaker position before the winter peak than it has been in recent years.