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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NATURAL GAS
EU gas storage provided almost all incremental gas supply during last week's cold spell, demonstrating once again its crucial role for the European gas and energy system according to the IEA.
- Domestic production and piped imports remained broadly flat, highlighting the limited upstream flex both in the EU and its major pipeline suppliers.
- LNG send-out remained flattish as well. While LNG is divertible and played a crucial role in offsetting the shortfall in Russian gas, the short-term flexibility of LNG send-out is limited when compared to underground storage sites.
- Despite last week's strong storage draws, inventory levels remain just 10 bcm above their 5y average, and storage sites are still 83% full.
- The IEA notes that the reactivity and flexibility of EU gas storage is irreplaceable and highlights the necessity for Europe to keep storage full for as long as possible.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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