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NATGAS
Injections into European gas storage fell further below normal last week but gas in store is still on course to reach EU pre winter target levels by September.
- Net injections were 44.5% below the previous five year average levels in the week to June 9 compared to an average of 32% below since the start of the injection season.
- Net injections averaged 2,136GWh/d in the week to June 9 compared to the five year average for the period of just over 3,850GWh/d.
- An injection rate holding at 70% of the previous five year average over the remaining summer months would bring storage up to the EU target of 90% around the end of the first week of September.
- Total European gas storage was up to 71.75% full on June 9 according to GIE compared to the five year seasonal average of 60.6%.
- Storage in Germany is at 185.0Wh (74.8% full), Italy at 152.9TWh (76.4%), Netherlands at 94.3TWh (65.5%), Austria at 79.7TWh (79.3%) and France at 79.4TWh (61.6%).
Source: GIE / MNI
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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