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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
Spanish natural gas pipeline exports to France increased 42% in March to a record volume for this time of year according to Enagas SA. Spain delivered 3,707GWh of natural gas compared to 2,602GWh in the same month of last year.
- The increase was likely driven by disruption to operations at French LNG import terminals due to strike action and with storage levels reaching the end of heating season lows.
- In their Summer Outlook, French grid operators GRTGaz SA and Terega SA called for efforts to reduce gas consumption to continue to fill storage sites ahead of next winter. They added that import entry points will need to be used near maximum levels with little leeway to refill storage by the end of October.
- Gas storage in France fell to 27.42% full on 6 Apr compared to the five year average of 23.14% but much lower than the total EU stores at a low of 55.32% full.
- Warmer than normal temperatures and greater renewable energy output in Spain during March have resulted in a 16% drop in domestic demand to assist the high exports to France.
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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