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Europe’s Gas Reserves at 88% but Below 2023 Highs

– European gas reserves are currently over 88% capacity, but this is still lower than the record of 89.5% from 2023.
– Reports indicate gas prices in Europe are approximately $440 per 1,000 cubic meters, influenced by transit complications in Ukraine due to military actions.
– On August 13, gas injection into EU storage reached 326 million cubic meters, while withdrawals were only 26 million cubic meters, indicating a net gain.
– Europe’s underground storage is now 88.24% full, containing 97.1 billion cubic meters of gas, which is 8.13 percentage points above the five-year average for this date.
– Current weather in Central and Western Europe remains warm, contributing to energy dynamics.
– Wind power’s share of electricity production in the EU dropped to 11% in August.
– July recorded the lowest liquefied natural gas (LNG) supplies since November 2021, with only 35% of regasification capacity utilized this month.
– Average gas prices climbed from $366 in July to $432 in August.

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