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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
High gas in store volumes are limiting the upside form global LNG supply concerns as total European storage is already just below the EU pre winter 90% target level.
- Total European injections have been just 10% below the five year average over the week to 12 Aug according to GIE data compared to an average of 17% below normal throughout the summer season so far.
- Total European gas storage is up to at 89.09% full on a 12 Aug according to GIE data compared to the five year average for this time of year of 75.1%.
- Net European storage injections have averaged about 3,460GWh/d in the last week compared to the five year average for the period of just under 3,870GWh/d.
- Any halt to Australian LNG exports could however pressure European supplies amid LNG competition from Asia and restrict the end of season injection rate. However if LNG supplies are maintained, then there is still a short term risk of an oversupplied market especially if there is a warm start to the winter heating season.
- Storage in Germany is at 228.4Wh (91.25% full), Italy is at 175.3TWh (89.8%), Netherlands at 131.0TWh (92.0%), Austria at 87.7TWh (89.8%) and France at 111.2Wh (81.5%).
- TTF SEP 23 up 0.9% at 35.61€/MWh
- TTF WIN 23 up 1.1% at 49.54€/MWh
- TTF SUM 24 up 1.5% at 50.97€/MWh
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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