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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
European officials are contemplating support for links to Bilche-Volytsko-Uherske and other storage facilities across Ukraine. The Bilche-Volytsko-Uherske storage facility can hold more than four times as much natural gas as the largest site in Germany and connects easily to the EU’s grids.
- “Ukrainian storage can help to balance supply and demand during the second half of the summer 2023, given their excellent connection to EU gas markets,” RWE AG said to Bloomberg.
- Prices will need to fall low enough to justify the costs to make storing gas in Ukraine viable and the EU will also likely need to provide a backstop against potential losses related to the conflict.
- The European Commission is “exploring if and how guarantees issued by public institutions could perhaps support unlocking access to natural gas storages in Ukraine,” said spokesman Tim McPhie last week.
- Ukraine gas storage capacity totals more than 30bcm with operator Ukrtransgaz making a third of that space available. Ukraine storage was 18.65% full according to GIE data for 10 June.
- European natural total storage is now up to 71.87% full on 10 June according to GIE data compared to the five year average of 54.75%.
Source: Bloomberg
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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