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EU Gas Storage Levels Unchanged Since Mid April

NATGAS

European gas storage has remained almost unchanged since April 16 with GIE data showing a net withdrawal on Apr. 22 talking stocks to 62.01% full. Total EU storage however remains just above the previous five year range after the high levels at the end of the winter season and after strong injections in the first half of April.

  • Recent injection rates have dropped amid curtailed Norwegian supply due to maintenance and with colder weather across much of Europe in the last week. Planned Norwegian field and processing plant capacity outages are expected to peak at 101.7mcm/d on April 27 according to Gassco.
  • The last week has seen an average daily injection rate of just 108GWh/d while April 22 saw a net withdrawal of 1,290GWh/d compared to the five year average in the week to April 22 of 2,849GWh/d for the same period.
  • Storage in Germany is at 167.2TWh (67.9% full), Italy at 125.6TWh (62.8%), Netherlands at 78.7TWh (54.6%), Austria at 74.7TWh (76.2%) and France at 60.8TWh (47.2%).
    • TTF MAY 24 down 0.2% at 28.35€/MWh
    • TTF Q3 24 down 0.3% at 29€/MWh
    • TTF WIN 24 down 0.2% at 33.8€/MWh

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European gas storage has remained almost unchanged since April 16 with GIE data showing a net withdrawal on Apr. 22 talking stocks to 62.01% full. Total EU storage however remains just above the previous five year range after the high levels at the end of the winter season and after strong injections in the first half of April.

  • Recent injection rates have dropped amid curtailed Norwegian supply due to maintenance and with colder weather across much of Europe in the last week. Planned Norwegian field and processing plant capacity outages are expected to peak at 101.7mcm/d on April 27 according to Gassco.
  • The last week has seen an average daily injection rate of just 108GWh/d while April 22 saw a net withdrawal of 1,290GWh/d compared to the five year average in the week to April 22 of 2,849GWh/d for the same period.
  • Storage in Germany is at 167.2TWh (67.9% full), Italy at 125.6TWh (62.8%), Netherlands at 78.7TWh (54.6%), Austria at 74.7TWh (76.2%) and France at 60.8TWh (47.2%).
    • TTF MAY 24 down 0.2% at 28.35€/MWh
    • TTF Q3 24 down 0.3% at 29€/MWh
    • TTF WIN 24 down 0.2% at 33.8€/MWh

Keep reading...Show less