Romania has consumed over half of its stored gas, but remains above the EU average

Data centralized by transmission system operators in Europe show that Romania’s gas storage facilities are currently filled to 48.7% of capacity, Economedia reports.

At the beginning of the cold season, on October 31, the stock level was approximately 97%, which indicates that over half of the quantity injected underground has already been extracted and consumed, given that the winter gas season officially ends on March 31.

The European average regarding gas stocks is 39%. Thus, Romania is above the European level, but also above the Hungarian level, of 42%. However, it is below that of Bulgaria, where the storages are 52% full.

Experts estimate that the existing reserves should be sufficient until the weather warms up, as, due to the cold weather, the average daily extraction exceeds 220 GWh, the equivalent of approximately 23 million cubic meters of gas.

Maintaining the current extraction rate for a long period is considered unlikely, given that of the approximately 1.4 billion cubic meters remaining in storages, only about 1.1 billion can be effectively extracted, the rest being limited by technical constraints.

The decrease in the average level of European stocks below the 40% threshold since February is expected to put pressure on gas prices on the TTF hub.

For Romania, the relatively high level of reserves represents a short-term advantage, but if European countries start to compete aggressively for the purchase of gas needed to replenish stocks, invoice prices could increase.

At the European level, the highest filling levels of warehouses are found in Portugal, with 80%, while Ukraine records the lowest level, of only 19%.