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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
Aggregate LNG sendout to the EU and UK fell to its lowest monthly volume since December 2021 with exceptionally slow European downstream demand according to Argus.
- European LNG sendout fell to 3.4 TWh/d in August down from 3.7 TWh/d a year earlier and the lowest for the month of August since 2014, excluding 2020.
- The fall was driven by a slower rate of storage injections as gas in store neared capacity and with consumption particularly subdued.
- Gas consumption from the continent's five largest gas consumers of Germany, UK, France, Italy and the Netherlands fell to the lowest for any month since August 2016 to 4.5 TWh/d.
- UK consumption declined to its lowest since at least October 2010 driven by residential and commercial demand while French consumption dropped to its lowest since at least January 2007.
- Industrial demand remains subdued after falling due to high prices and increased renewable and especially solar generation in southern Europe has reduced the call on gas-fired generation.
- Consumption could remain muted by long-term forecasts showing minimum temperatures well above seasonal normal in Paris and to a lesser extent Milan until mid-October according to Argus.
Source: Argus
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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