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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.
NATURAL GAS
The net gas withdrawal rate from European storage has increased above the five year average in the last couple of days with cooler weather in Europe increasing heating demand. Total European storage levels are still just above the five year range and on track to fall to about 56% full by the end of the winter withdrawal season at the end of March.
- EU natural gas storage net withdrawal rate was 5,810GWh/d on 28 Feb compared to the five year average net withdrawal rate for this time of year of approximately 5,000GWh/d.
- Total European storage levels were above the five year range at 61.06% on 28 Feb according to GIE AGSI data compared to the average of 39.60%. Based on withdrawal rates from the last ten years the end of March storage level could finish between 49.1% and 59.9%.
- The countries with the largest gas storage volumes are Germany at 172.95TWh (69.5% full), Italy at 115.62TWh (59.77%), Netherlands at 87.15Wh (62.73%), Austria at 67.85TWh (70.13%), and France at 55.47TWh (41.52%).
- TTF APR 23 up 0.5% at 47.3€/MWh
- TTF SUM 23 up 0.2% at 47.9€/MWh
- TTF WIN 23 down -0.1% at 55.15€/MWh
Source: MNI / GIE AGSI
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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