Gazprom: gas reserves in UGS in Europe and Ukraine are at historic lows

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AK&M 24 January 2022 17:52

Gas reserves in the UGS of Europe and Ukraine are at historic lows. As of January 22, the occupancy of Ukrainian UGS decreased to 12.1 billion m3. This is 44.6% (9.7 billion m3) lower than last year, and 3.2 billion m3 less than at the start date of the injection in April 2021. And today, the reserves in the UGS of Ukraine have "failed" already below 12 billion m3. This was announced by Gazprom.

According to Gas Infrastructure Europe, as of January 22, the volume of active gas in European underground storage facilities is 26% (14.9 billion m3) less than last year's level. More than 70% of the volume of gas pumped in the summer season has already been selected. As of January 22, the extraction reached 71.8% or 34.3 billion m3 of gas.

The occupancy of underground storage facilities in Germany dropped below 42% to 41.8%.

Since January 11, 2022, the level of reserves in European UGS has moved to the area of record lows for a long period of observations. As of January 22, the reserves are already 1.85 billion m3 less than the minimum for this date.

At the same time, on January 18, a new absolute daily record of Russian gas supplies to China was recorded under a bilateral long-term contract between Gazprom and CNPC.

PJSC Gazprom (TIN 7736050003) is the world's largest gas company. The authorized capital of Gazprom is 118.367 billion rubles. Issued 23673512900 ordinary shares with a par value of 5 rubles. The number of Gazprom shareholders in Russia and abroad is several hundred thousand. Over 50% of the company's shares are under the control of the Russian Federation. The depository of the ADR Gazprom program is The Bank of New York Mellon.

Gazprom's profit under IFRS for 9 months of 2021 amounted to 1.58 trillion rubles against a loss of 202.2 billion rubles a year earlier. Profit attributable to Gazprom shareholders reached 1.55 trillion rubles against a loss of 218.38 billion rubles. Profit from sales increased 4.9 times to 1.59 trillion rubles from 325.15 billion rubles. Profit before tax amounted to 1.94 trillion rubles against a loss of 327.02 billion rubles. EBITDA increased by 137% and amounted to 2.2 trillion rubles.

Net revenue from gas sales increased by 77% to 3.46 trillion rubles. Net revenue from gas sales to Europe and other countries increased by 117% to 2.46 trillion rubles. Net revenue from the sale of gas to the countries of the former Soviet Union increased by 34% to 267.3 billion rubles. Net revenue from gas sales in the Russian Federation increased by 18% to RUB 732.58 billion.