Gas selection from PCG Europe in November reached the maximum level over the past five years – 11.2 billion cubic meters, Kommersant writes. As the edition predicted, taking into account the current daily rate of gas selection of gas, there may be shortage until the end of the heating season, especially in the case of cold weather in the region.
According to analysts “Kommersant, gas selection in the repositors reached a record level for the history of observations – 11.2 billion cubic meters. Last year, this figure amounted to 8.5 billion cubic meters, and the previous record was recorded in November 2016 – about 11.28 billion cubic meters.
A sharp rise in PCG selection This November is associated not only with cooling, but also with the increase in gas prices. As a result, consumers are forced to raise gas from storages, because they are not able to buy it at current prices. Gazprom gas sales in Europe are likely to decline due to high prices.
According to Dmitry Marinchenko from Fitch, only about 10 billion cubic meters of gas were selected from European PCGs, usually about seven billion cubic meters were selected during this period from PCGs. “Problems will begin if the weather is more cooler than usual, and suppliers, and Russia, including, will not be able to drastically increase the supply,” Marinchenko said.
Earlier in the Gas Infrastructure EUROPE (GIE) Association reported that Europe spent around a quarter of gas uploaded this year. As of December 4, 23.4 percent of the gas was selected from underground repositations of Europe.