Russia will not freeze Europe: it is stockpiling gas at a record pace

Europe is stockpiling gas at a rapid pace. As of 14 August, the continent's underground storage facilities were 89.75% full. This actually corresponds to the figures that were achieved in previous years around 1 November.

There are several main differences in the accumulation of the resource from the previous season, said Danylo Hetmantsev, Chairman of the Verkhovna Rada Committee on Finance. In particular:

• calm conditions;
• clear planning;
• "significantly lower prices, which by the beginning of June generally dropped to almost $250 per 1000 cubic metres from almost $500 at the end of the last heating season."without looking back at Russia "with its last year's blackmail and provocations".

"This week, Europe will exceed the target for accumulating gas reserves for the next heating season. Thus, as early as mid-August, we will have accumulated as much as in previous years it was planned to provide by 1 November," the MP said.

Countries with almost full storage facilities

• Spain - 99.62% of the available storage capacity;

• Croatia - 96.72%;
• Sweden - 95.29%;
• Slovakia - 93.44%;
• Czech Republic - 92.89%;
• Netherlands - 92.57%;
• Poland - 92.50%;
• Germany - 91.92% (the largest gas storage facility on the continent in terms of physical volumes);
• United Kingdom - 94.75%.

The role of Ukraine

At the same time, Hetmantsev noted that as European storage facilities are approaching the limits of filling, traders are beginning to use Ukrainian ones. In particular, 0.6 billion cubic metres of gas belonging to them have already been pumped into them.

"We, in turn, can offer our European friends and partners underground storage facilities with a total available volume of up to 15 billion cubic metres," the MP said.

As OBOZREVATEL previously reported, Ukraine itself will not negotiate with Russia to extend gas transit. According to the Energy Minister, this will not be necessary.

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