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Europe needs 56 bn cubic mt gas to fill 90% storage facilities: Gazprom

Gas reserves in the underground storage facilities in Europe were replenished by 6.9 billion cubic meters as of April 29, Russia's Gazprom said

Europe | Russia Ukraine Conflict | Gazprom


Gazprom, oil
A board with the logo of Gazprom Neft oil company is seen at a fuel station in Moscow, Russia. (Photo: Reuters)

Gas reserves in the underground storage facilities in were replenished by 6.9 billion cubic meters as of April 29, so will have to pump in about 56 billion cubic meters more to get them 90% full, Russia's said on Sunday.

"According to Gas Infrastructure Europe, as of April 29, gas reserves in the European underground gas storage facilities were replenished by 6.9 billion cubic meters. To reach the level of 90% storage capacity, declared as a target by the European Union, will have to pump about 56 billion cubic meters of gas," the company said on Telegram.

The export of Russian gas to China through the Power of Siberia gas pipeline continues to grow, increasing by almost 60% in January-April compared to the same period last year, Russia's said on Sunday.

"Gas exports to China through the Power of Siberia gas pipeline are growing under a bilateral long-term contract between and China National Petroleum Corporation. The volume of supplies for the first four months of 2022 exceeds the same indicator last year by almost 60%," the company said on Telegram.

Russian gas is supplied to the region via the Power of Siberia gas pipeline. The supplies have started at the end of 2019, and amounted to 4.1 billion cubic meters in 2020. It is planned to increase the volume of supplies until reaching the design annual capacity of 38 billion cubic meters by 2025.

Taking the new February agreement into account, the total capacity of supplies along the Far Eastern route to China could amount to 48 billion cubic meters per year.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Sun, May 01 2022. 16:04 IST