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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 gas storage is project to finish the heating season above normal as withdrawal rates have held below normal since Jan 20. Mild weather across Europe in the first half of Feb is expected to keep demand muted.
- European natural gas storage is up at 68.29% full on Feb 6 according to GIE data compared to the seasonal five year average of 54.3%.
- Net storage withdrawals have been around 27% below normal in the week to Feb 6 with withdrawals of 3,747GWh/d compared to the previous five year average of about 5,173GWh/d.
- Based on the withdrawal rates from the last ten years from now until the end of March EU storage levels would fall to between 42.1% and 61.2% full at the end of the heating season. The previous five year average storage level at the end of March is around 41.5%
- Storage in Germany is down to 187.7TWh (73.7% full), Italy to 123.2TWh (62.6%), Netherlands to 89.3TWh (62.7%), France to 74.7TWh (55.6%) and Austria to 79.3TWh (81.2%).
Source: MNI / GIE
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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