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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 levels are down to 56.61% according to GIE data from 11 Mar compared to the five year average of 36.3% with slightly above normal withdrawals.
- EU natural gas storage net withdrawal rate was around 2,900GWh/d on 11 March compared to the five year average net withdrawal rate for this time of year of approximately 1,500GWh/d. Higher gas demand due to French strikes disrupting nuclear generation and LNG supplies is likely to offset lower demand due to warmer weather this week to keep pressure on storage withdrawals.
- Seasonal normal withdrawals until the end of March would bring stocks down to 54.3% at the end of the traditional withdrawal season.
- The countries with the largest gas in store volumes are Germany at 160.76TWh (64.35% full), Italy at 109.80TWh (56.76%), Netherlands at 81.84TWh (58.9%), Austria at 64.13TWh (66.29%) and France at 43.41TWh (32.49%).
- TTF APR 23 down -0.7% at 52.5€/MWh
- TTF SUM 23 down -0.4% at 53.05€/MWh
- TTF WIN 23 down -0.7% at 59.46€/MWh
Source: 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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