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NATGAS
European gas demand surged by 40% last week as colder temperatures increased space heating and low wind speeds boosted gas-fired power generation, according to IEA analyst Greg Molnar.
- Gas demand last week rose to 10% above the five year average
- A shortfall in wind power output was largely compensated by stronger gas burn in the power sector, which soared by more than 50% w/w.
- Space heating demand across the residential and commercial sectors rose by around 45% w/w.
- Storage withdrawals accounted for more than 80% of incremental gas demand, highlighting that gas supply flexibility will be key amid the clean energy transition.
Source: IEA
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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