Energy Minister Nikolai Shulginov said on Wednesday that domestic gas storage was 9 7% filled, without disclosing the specific figure. Ronald Smith, senior oil and gas analyst at Russia’s BCS brokerage, estimates that the storage stands at around 69 billion cubic metres (bcm), close to the company’s publicly disclosed target full-storage level of 72.6 bcm.

Gas markets in Asia and Europe have sky-rocketed this year, with benchmark Dutch gas hub spot prices jumping by 365 % since the year-start, fuelled by low inventories and surging demand as economies recover from the COVID-19 crisis.

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