Gazprom reaches set level of operating gas reserves in Russian UGS at 72.638 bcm

MOSCOW. Oct 29 (Interfax) – Gazprom has reached the target level of operating gas reserves in underground storage facilities in Russia at 72.638 billion cubic meters, the company said in a statement.

The potential maximum daily productivity of storage facilities has been taken up to 847.9 million cubic meters.

At the same time, the company recalled that work on injecting gas into Russian UGS facilities would continue until November 8.

Gazprom said earlier that after finishing gas injection into Russian UGS, it would be able to concentrate on intensifying replenishment of its reserves in UGS in Europe. This information has already been the main factor of reduced risks for the upcoming heating season on the European and global markets and, accordingly, correction of gas prices for three days running.

"Analysis of the actual weather conditions in Russia and countries of Europe over the past several years confirms that the winter period now includes the spring month of March. In connection with this, the presence of sufficient gas reserves in UGS facilities and maintenance of their high productivity by the start of spring is one of the key factors of successfully passing the season of peak demand," the Russian gas company said.

A total of 60.6 bcm of gas was withdrawn from Russian UGS in the 2020/2021 heating season, which was the highest figure for the Russian gas sector.