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NATGAS: Low Gas Storage Injection Rates Could Rise on Returning Pipeline Supply

NATGAS
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European natural gas storage has been slowly rising to 93.40% full on Sep 15, according to GIE, but with injection rates limited due to curtailed pipeline supplies to Europe from Norway and Algeria.  Injections rates could soon pick up again ahead of winter with Norway maintenance currently expected to start reducing at the end of this week and with Algeria gas flows to Italy gradually returning in recent days.

  • Net injections have recovered from a low of just 25GWh/d on Sept. 12 but still averaged just 34% of normal levels last week. Average rates were 661GWh/d in the week to Sept. 15 compared to the five year average for the period of 1,954GWh/d.  Injections were 43.5% of normal levels the previous week.
  • The five year average for EU storage at this time of year is 87.6% full.
  • In total 16 of the 18 GIE storage reporting countries are showing gas stores at over 90% of capacity with five, including Germany, over 95%.
  • Storage in Germany is at 240.1TWh (95.6% full), Italy at 189.8TWh (94.9%), Netherlands at 131.6TWh (91.4%), France at 122.5TWh (91.6%) and Austria at 93.7TWh (92.2%).
    • TTF OCT 24 up 1.8% at 34.69€/MWh

 

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European natural gas storage has been slowly rising to 93.40% full on Sep 15, according to GIE, but with injection rates limited due to curtailed pipeline supplies to Europe from Norway and Algeria.  Injections rates could soon pick up again ahead of winter with Norway maintenance currently expected to start reducing at the end of this week and with Algeria gas flows to Italy gradually returning in recent days.

  • Net injections have recovered from a low of just 25GWh/d on Sept. 12 but still averaged just 34% of normal levels last week. Average rates were 661GWh/d in the week to Sept. 15 compared to the five year average for the period of 1,954GWh/d.  Injections were 43.5% of normal levels the previous week.
  • The five year average for EU storage at this time of year is 87.6% full.
  • In total 16 of the 18 GIE storage reporting countries are showing gas stores at over 90% of capacity with five, including Germany, over 95%.
  • Storage in Germany is at 240.1TWh (95.6% full), Italy at 189.8TWh (94.9%), Netherlands at 131.6TWh (91.4%), France at 122.5TWh (91.6%) and Austria at 93.7TWh (92.2%).
    • TTF OCT 24 up 1.8% at 34.69€/MWh

 

Keep reading...Show less