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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
Europe is maintaining small net natural gas storage injection rates so far in August despite the curtailment to Norwegian pipeline gas supplies amid seasonal maintenance. The gradual return of Norwegian imports after this weekend may help to support further injections this month.
- The Australian LNG strikes starting today are an added supply risk. The initial impact for Europe is likely to be muted but could increase with an extended period of disruption towards the start of the heating season.
- Injection rates have dropped as total storage levels approach capacity and have averaged about 1,280GWh/d in the last week compared to the five year average for the period of just under 2,740GWh/d.
- Injections typically continue until late October reaching a peak in the last few years of 97.8% full in Oct 2019.
- European natural gas storage was at 93.47% full on a 6 Sep according to GIE data compared to the five year average for this time of year of 82.4%. Nearly all 18 EU AGSI reporting countries have reached the 90% full storage target.
- Storage in Germany is at 238.4Wh (94.0% full), Italy is at 182.95TWh (93.7%), Netherlands at 135.4TWh (95.1%), France at 122.7Wh (90%) and Austria at 91.0TWh (93.2%).
- TTF OCT 23 up 6.3% at 34.83€/MWh
- TTF WIN 23 up 3.3% at 48€/MWh
- TTF SUM 24 up 1.6% at 50.93€/MWh
Source: GIE / 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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