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Europe to Exit Winter with Gas Storage 44% Full: BNEF

NATURAL GAS

Northwest Europe is set to finish the Winter 23 with natural gas storage inventories at 44% full, according to BNEF.

  • Higher consumer gas prices are expected to keep demand around 12% below the 2016-2020 average. This should limit the size of stock draws from storage during the winter.
  • The healthy buffer in storage should enable Europe to cope with any demand surges during periods of colder weather.
  • In the event of a colder-than-average winter, residential and commercial consumption – around 55% of total annual gas demand– could rise by 11.5% versus the base case.
  • The region will continue attracting LNG imports, taking around 54% of the flexible spot supply.




Source BNEF

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