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Europe Maintains Small Net Storage Injections

NATURAL GAS
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The European gas market is still holding onto small storage injections despite the extended period of Norwegian maintenance limiting supplies for longer than anticipated.

  • Injection rates have dropped as total storage levels approach capacity and amid reduced pipeline supplies into Europe. Net injections averaged about 881GWh/d in the week to 11 Sep compared to the five year average for the period of just over 2,540GWh/d.
  • European natural gas storage has edged higher to 93.85% full on a 11 Sep according to GIE data compared to the five year average for this time of year of 83.5%. Nearly all 18 EU AGSI reporting countries have reached the 90% full storage target with Latvia and Belgium the only countries below the level.
  • Ukraine storage is up to 33.6% full with foreign companies storing natural gas in the country this summer as EU stores near capacity.
  • Storage in Germany is at 238.5Wh (94.0% full), Italy is at 184.1TWh (94.3%), Netherlands at 135.6TWh (95.2%), France at 122.8Wh (90.1%) and Austria at 90.9TWh (93.1%).
    • TTF OCT 23 up 2.4% at 35.52€/MWh
    • TTF WIN 23 up 1.2% at 47.76€/MWh
    • TTF SUM 24 up 0.9% at 50.62€/MWh

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The European gas market is still holding onto small storage injections despite the extended period of Norwegian maintenance limiting supplies for longer than anticipated.

  • Injection rates have dropped as total storage levels approach capacity and amid reduced pipeline supplies into Europe. Net injections averaged about 881GWh/d in the week to 11 Sep compared to the five year average for the period of just over 2,540GWh/d.
  • European natural gas storage has edged higher to 93.85% full on a 11 Sep according to GIE data compared to the five year average for this time of year of 83.5%. Nearly all 18 EU AGSI reporting countries have reached the 90% full storage target with Latvia and Belgium the only countries below the level.
  • Ukraine storage is up to 33.6% full with foreign companies storing natural gas in the country this summer as EU stores near capacity.
  • Storage in Germany is at 238.5Wh (94.0% full), Italy is at 184.1TWh (94.3%), Netherlands at 135.6TWh (95.2%), France at 122.8Wh (90.1%) and Austria at 90.9TWh (93.1%).
    • TTF OCT 23 up 2.4% at 35.52€/MWh
    • TTF WIN 23 up 1.2% at 47.76€/MWh
    • TTF SUM 24 up 0.9% at 50.62€/MWh