MOSCOW, September 2. /TASS/. Gas reserves in European underground gas storage (UGS) facilities exceeded the targeted 80% in August before the upcoming heating season, according to data provided by Gas Infrastructure Europe (GIE). Meanwhile, Europe's LNG imports lost 14% last month compared with July, still hitting a record level for August though.

European UGS facilities received 13 bln cubic meters of gas in August, which became the third-highest level for this month since GIE records started in 2011. That said, gas withdrawal from storage facilities was the lowest since 2017, standing at 0.85 bln cubic meters.

Gas reserves in European UGS facilities were up at 80.35% as of August 31, 2022, which is 0.3 percentage points higher than the five-year average as of this date. Around 86.5 bln cubic meters of gas are stored in UGS facilities now. Earlier, the European Commission (EC) suggested that the occupancy level be introduced for EU gas storage facilities of at least 80% for 2022-2023 winter, and of 90% for all future winter periods.

Portugal and Poland have reached the highest storage occupancy level of 100% and 99.3%, respectively. UGS facilities in France are 91.89% full, in Sweden - 90.8% full, in Denmark - 94.62% full, in Germany - 84.26% full, in Italy - 82.56%, in Spain - 84.71%, in the Netherlands - 77.78%, in the Czech Republic - 82.12%, in Belgium - 89.12%, in Slovakia - 75.01%.

Gas is being pumped into gas storage facilities fast largely due to purchase of liquified natural gas at current superhigh prices amid a decrease in supplies from Russia. In particular, the average gas price in Europe was around $1,240 per 1,000 cubic meters in June, roughly $1,850 in July, and as much as $2,515 in August. The gas price reached its peak level of $3,541 for the first time since early March, approaching an all-time high of March 7, 2022, when the exchange price of gas almost reached $3,900 per 1,000 cubic meters.

LNG supplies from terminals to Europe's gas transport system hit a record level for the month again in August, reaching 10 bln cubic meters, which exceeds the previous record level of 7.1 bln cubic meters registered in August 2019. However, the receival of LNG by European countries dropped by almost 14% last month compared with July.