The average level of gas reserves in underground storage facilities in Europe will reach 80% of capacity on Monday, a milestone that will certainly carry political weight beyond its technical significance.
Data on the state of underground gas storage (UGS), reserve levels in which are now regulated by the law, have become one of the most important economic and political indicators for Europe, reflecting EU leaders' ability to ensure energy security. Europe imposed tight regulation of the use of UGS this year. Reserves are supposed to be at least 80% of UGS capacity by the start of the 2022 offtake season and increase to 90% in subsequent years.
Reserves in Europe's UGS facilities reached 79.36% on the last reporting date, August 27. The figure has been increasing by 0.3 percentage points on weekdays and 0.4 points on weekends this season, so by the end of the August 29 gas day reserves will reach 80%. However, politicians have already said that reserves will continue to be increased at a rapid pace.
Reserves in storage have now surpassed 80% of capacity in Belgium, the Czech Republic, Denmark, France, Germany, Italy, Poland, Portugal and Spain.
Meanwhile, Austria, Bulgaria, Croatia, Hungary, the Netherlands and Latvia are lagging, with the latter in the rear with 55%.
