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European Gas Injections Above Normal as Stores Approach Capacity


Above normal European natural gas injection rates are pushing the end of season stocks up towards capacity and the highest in over ten years.

  • European natural gas storage was up to 99.25% full on 29 Oct according to GIE data compared to the five year average of 90.1%.
  • Net injections have increased in the last few days and well above the average rates from the previous five years. Net injections averaged about 1,006GWh/d in the week to 29 Oct compared to the five year average for the period of just 331GWh/d.
  • The previous five year average shows a switch from net injections to net withdrawals by 3 November.
  • All 18 EU AGSI natural gas storage reporting countries are over 95% full while Ukraine storage is at 39.17% full.
    • TTF DEC 23 down -4.2% at 50.8€/MWh
    • TTF Q1 24 down -4% at 52.7€/MWh
    • TTF SUM 24 down -3.4% at 50.8€/MWh

Source: GIE / Bloomberg

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