Despite concerns over possible natural gas shortages following the shutdown of the Nord Stream pipeline, EU underground gas storages are being filled at an accelerated pace, recent data suggests.
According to reports by Gas Infrastructure Europe (GIE), storage filling rates increased to 0.35-0.39 percentage points in early September from 0.19 pp in late August. Before the shutdown of the Nord Stream pipeline, gas storage filling rates stood at 0.3-0.4 pp. Overall, EU gas stocks were estimated at 88.15 billion cubic meters as of September 3, with underground storage facilities being 81.55% full. Gazprom halted the Nord Stream pipeline on September 3, citing an oil leak in its only working engine. However, some analysts believe the Nord Stream shutdown was a move geared toward the Russian domestic audience, as gas transit via Ukraine has remained unchanged.
