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European Natural Gas Draws Gather Pace

NATURAL GAS

EU storage withdrawals are ramping up quickly and reached close to 0.5 bcm/d this week as colder weather takes hold and drives space heating in the residential and commercial sectors according to IEA gas analysts.

  • The analysts highlight the flexibility of the EU gas system to react to cold weather and smooth prices while EU stocks remain 97% full.
  • Risk factors this winter include a prolonged cold period, unexpected supply disruptions and any signs of potential lower LNG supply – especially in the second half of winter when storage is expected to be depleted.



Source: IEA

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