European Natural Gas Market - Episode 3
A few observations on LNG imports; 25 November 2024
Just a few observations while this commodity market is on top of our watch list.
Balances
We increased our LNG imports (regas) into the EU pipeline system by 1.2 bcm due to a strong last week in November, though they remain 11.4% below last year’s levels
Consumption reduced by 0.2 bcm on latest weather data (green line)
That reduces our storage draws in November to 9 bcm (orange line)
Our storage exit forecast stands at 35.3% for end of March (was 34.7% yesterday)