EU Natural Gas

November 29, 2019

The Research Team reviews the EU Natural Gas market

 

« Back to All Research and Analysis

SHARE:

29 November 2019 

  • European gas remains well supplied. While NW Europe has become gradually tighter (pipeline volumes), Russian imports have been increasing over the past few days. LNG volumes continue to be at their highest since the beginning of the year and are expected to remain so. As a result, storage rates of destocking have been below the norm, highlighting an oversupplied scenario.
  • The cold spell that was originally predicted to affect Europe during week 49 has been downgraded in strength and length. Meanwhile, high pressure conditions will build up over southern Europe pushing the jet-stream towards higher latitudes. This will increase at once rainfall over northern Europe and wind over continental Europe. The climate spread is expected to remain in negative territory, although not pushing any lower than current levels.
  • Macroeconomic conditions are still lingering on a weak-mode scenario. While PMI has been increasing more aggressively and for the second consecutive month, the Business Expectation Index has been trending down once again (November data). The energy intensity index is predicted to decline (next two weeks) due a weakening in demand

SHARE:

X

This website uses cookies for performance, analytics and enables you to view the videos.