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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
The European gas storage injection rate has increased but was still lagging just below the five year average level over the last week. European gas storage was up to 65.61% full on 20 May according to GIE data compared to the five year average of 46.9%. Stocks were 21.7% points above the average at the end of March but are now 18.7% points above.
- Net European storage injections averaged about 3,600GWh/d in the week to 20 May compared to the five year average for the period of nearly 3,880GWh/d.
- Storage in Germany is at 179.83Wh (71.75% full), Italy is at 138.68TWh (71.69%), Netherlands at 93.82TWh (65.87%), Austria at 70.73TWh (73.12%) and France at 64.64TWh (48.38%).
- Based on the historical injection rates from last ten years, European natural gas storage inventories would expect to reach at least 92.5% full by the start of November. Injection rates from 80% of the last ten years would see storage reach capacity before the end of the summer with 60% full by late August.
- The EU target is to be 90% full by 1 November with intermediate targets for May, July and September 2023.
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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