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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 withdrawals have been declining since mid January and back below normal net withdrawal rates since Jan 20. Demand has been muted by warmer weather in the second half of Jan and the forecast is for temperatures to remain above normal through the first week of Feb.
- European natural gas storage was still well above normal at 71.54% full on Jan 28 according to GIE data compared to the seasonal five year average of 58.7%.
- Net storage withdrawals have fallen back nearly 37% below normal in the week to Jan 28 with withdrawals of 4,631GWh/d compared to the previous five year average of about 7,340GWh/d.
- Based on the withdrawal rates from the last ten years from now until the end of March EU storage levels would fall to between 40.2% and 61.2% full at the end of the heating season.
- Storage in Germany is down to 192.9TWh (75.7% full), Italy to 131.5TWh (66.7%), Netherlands to 95.1TWh (66.7%), France to 82.2TWh (61.2%) and Austria to 80.6TWh (82.5%).
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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