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Pressure gauges, pipes and valves are pictured at an "Dashava" underground gas storage facility near Striy, Ukraine May 28, 2015. Gas prices remain elevated compared with the years before Russia’s invasion of Ukraine in February 2022. Warmer-than-normal temperatures combined with sharp reductions in industrial consumption and high prices to curb gas use by power generators and others left the region with extraordinarily high inventories. Having taken a lot of pain upfront in the form of eye-wateringly high prices during winter of 2022/23, Europe’s gas storage is much better positioned for the winter of 2023/24. Related columns:- Europe’s gas storage must peak early this autumn (September 8, 2023)- Europe's record gas inventories cap prices (August 8, 2023)- Europe’s gas prices stabilise as storage additions slow (June 8, 2023)- Europe only has space for a small gas refill in 2023 (April 14, 2023)John Kemp is a Reuters market analyst.

Persons: Gleb Garanich, Stocks, John Kemp Organizations: REUTERS, European Union, Gas Infrastructure, Thomson, Reuters Locations: Striy, Ukraine, Europe, United Kingdom, Asia

Pressure gauges, pipes and valves are pictured at an "Dashava" underground gas storage facility near Striy, Ukraine May 28, 2015. The bloc is expected to reach a target of filling its storage facilities to 90% full by Nov. 1. "EP Commodities transports natural gas to Ukraine and uses Ukrainian gas storage facilities," Miroslav Hasko, chairman at EPH's EP Commodities, said. EU countries' gas storage facilities were 87% full on Aug. 7, according to transparency platform GIE. "We consider gas storage in Ukraine as one of the interesting business opportunities that we are currently considering," SPP told Reuters.

Persons: Gleb Garanich, Miroslav Hasko, Naftotgaz, Martin Pich, Bruegel, Jan Lopatka, Marek Strzelelcki, Pavel Polityuk, Barbara Lewis Organizations: REUTERS, European Union, Traders, Gas, Reuters, Commodities, Naftogaz, Thomson Locations: Striy, Ukraine, PRAGUE, WARSAW, Czech, Slovakia, Russia, Hungary, Poland, Kyiv

A worker turns a valve at an underground gas storage facility near Striy May 21, 2014. Stocks in the European Union and the United Kingdom had climbed to 998 terawatt-hours (TWh) by Aug. 6, according to Gas Infrastructure Europe ("Aggregated gas storage inventory", GIE, Aug. 8). But because inventories finished the winter of 2022/23 at a record high even a smaller-than-average accumulation has left them at record levels. Chartbook: Europe gas inventories and pricesFutures prices for gas delivered in the summer of 2023 have already fallen sharply to encourage more consumption by industrial users and power generators. Related columns:- High prices keep lid on Europe's industrial gas use (July 11, 2023)- Europe’s gas storage is filling too fast (July 6, 2023)- Europe’s gas prices stabilise as storage additions slow (June 8, 2023)- Europe only has space for a small gas refill in 2023 (April 14, 2023)John Kemp is a Reuters market analyst.

Persons: Gleb Garanich, Stocks, John Kemp, David Evans Organizations: REUTERS, Gleb Garanich LONDON, European Union, Gas Infrastructure, Thomson, Reuters Locations: Striy, United Kingdom, Europe, Asia, Latin America

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