Underground gas storage facilities in Europe 70.5% full
08.06.2023 15:30
Underground gas storage facilities (UGS) in Europe are 70.5% full, and the wind generation in the region has dropped to 8.3% of total electricity generation, a minimum since the end of April, according to the data of the European Gas Infrastructure Operators Association (Gas Infrastructure Europe, GIE) and the Wind Europe Association.
The generation of wind farms (WPPs) in the European Union amounted to 8.3% of the total on June 7, the lowest since April 26, when the figure dropped to 1.4%, according to the data of the Wind Europe association. The average annual rate is about 15%. The decline in wind generation is one of the factors increasing the demand for gas.
Exchange prices for blue fuel in Europe rose slightly on Thursday afternoon. The cost of July (nearest) futures on the TTF index (the largest hub in Europe, located in the Netherlands) amounted to $314 (+7.8%). The dynamics of quotations is based on the settlement price of the previous trading day - $291.3 per thousand cubic meters.
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