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EU Gas Withdrawals Increase With Higher Demand

NATURAL GAS

European storage net withdrawals have edged back above normal to cover for higher demand during the current colder weather in parts of Europe. A halt to unloading and diverted cargoes away from French LNG ports could impact LNG flows into Europe and put more pressure on storage withdrawals.

  • Despite the potential for a period of above normal withdrawals storage levels are still well above normal. European gas storage is expected to finished the heating season at the end of March between 51% and 58% based on withdrawals from the previous 10 years.
  • LNG imports to Europe fell to 441mcm/d on 6 March driven by lower imports to NW Europe which were down from 355mcm/d on 28 Feb to 244 mcm/d.


Source: Bloomberg / GIE

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