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NATGAS: EU Gas Storage Withdrawals Remain More Than Normal

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European gas storage was down to 73.17% full on Dec. 29, according to GIE, compared to the previous five year average of 77.5% with withdrawal rates holding above normal.

  • Stores could come under further pressure in the new year with the anticipated end of Russian pipeline gas supplies transit via Ukraine and with potential for colder weather.
  • Forecaster Maxar expects a colder than normal January for NW Europe and the Nordics with possible weaker wind levels, according to Bloomberg.
  • Gas fired power generation and storage withdrawals remain key for flexible supply.
  • The European storage net withdrawal rate in the week to Dec. 29 rose to 4,005GWh/d compared to 3,755Gh/d the previous week. The previous five year average for the week is 1,736GWh/d.
  • Withdrawal rates reached the highest since January at 8,266GWh/d on Dec. 12.
  • Storage in Germany is at 202.8Wh (80.6% full), Italy at 159.9TWh (79.9%), Netherlands at 83.1TWh (57.7%), France at 82.5TWh (61.4%) and Austria at 80.1TWh (78.8%).
    • TTF FEB 25 up 2.7% at 49.17€/MWh

 

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European gas storage was down to 73.17% full on Dec. 29, according to GIE, compared to the previous five year average of 77.5% with withdrawal rates holding above normal.

  • Stores could come under further pressure in the new year with the anticipated end of Russian pipeline gas supplies transit via Ukraine and with potential for colder weather.
  • Forecaster Maxar expects a colder than normal January for NW Europe and the Nordics with possible weaker wind levels, according to Bloomberg.
  • Gas fired power generation and storage withdrawals remain key for flexible supply.
  • The European storage net withdrawal rate in the week to Dec. 29 rose to 4,005GWh/d compared to 3,755Gh/d the previous week. The previous five year average for the week is 1,736GWh/d.
  • Withdrawal rates reached the highest since January at 8,266GWh/d on Dec. 12.
  • Storage in Germany is at 202.8Wh (80.6% full), Italy at 159.9TWh (79.9%), Netherlands at 83.1TWh (57.7%), France at 82.5TWh (61.4%) and Austria at 80.1TWh (78.8%).
    • TTF FEB 25 up 2.7% at 49.17€/MWh

 

Keep reading...Show less