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Highlights for October JODI Natural Gas Data

  • Natural gas demand rose by 5.8 bcm in October, less than the seasonal average gain of 14.5 bcm. Meanwhile, gas production rebounded in October, increasing 10.6 bcm month-on-month.
  • Russian gas production increased for the third consecutive month but remains at a 5-year seasonal low and 22% below March levels.
  • EU+UK gas consumption was at a five-year seasonal low in October and inventories rose by 6.7 bcm to stand 95 percent full at the end of the month. The group’s LNG imports were up 50% from a year ago.
  • Total gas inventories rose by 11.7 bcm month-on-month and exceeded the five-year average for the first time since February 2021.

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