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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
Near term European gas markets remain weak with low demand and steady LNG supplies enabling the refilling of gas storage in Europe despite the ongoing Norway field maintenance.
- Muted demand in Asia so far this year has enabled strong LNG supplies into Europe although there are signs that LNG imports are starting to rise in Japan and mainland China.
- European gas storage injections are lagging slightly below the five year average level after the slow start to the refilling season in the first half of April and again just slightly below normal over the last week.
- Net European storage injections averaged about 3,200GWh/d in the last week compared to the five year average of 4,100GWh/d.
- European gas storage has increased up to 63.75% full on 14 May according to GIE data compared to the five year average of 44.8%.
- Injection rates can afford to be below normal compared to historical injection rates and still reach EU storage target of 90% before the start of the winter heating season.
- TTF JUN 23 down -0.3% at 32.22€/MWh
- TTF WIN 23 down -2.8% at 47.44€/MWh
- TTF SUM 24 down -3.5% at 47.7€/MWh
Source: GIE / 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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