Current European Natural Gas Storage Data (28-SEP-2022)

Celsius Energy ^ | 28-SEP-2022 | Celsius Energy

[SpeedyInTexas]

European natural gas inventories rose by +66 BCF over past 7 days.

EU nat gas storage 88% full.

Current inventories at 3382 BCF.

20.7% higher than 1 year ago.

EU goal is at least 80% full by Nov 1st for winter.

Current projection is for EU to reach 93% by Nov 1st.

[SpeedyInTexas]

Week thru 28-SEP-2022, inventories at 3382 BCF, 88% full.
Week thru 21-SEP-2022, inventories at 3316 BCF, 87% full.
Week thru 14-SEP-2022, inventories at 3243 BCF, 85% full.
Week thru 07-SEP-2022, inventories at 3167 BCF, 83% full.
Week thru 31-AUG-2022, inventories at 3084 BCF, 81% full.
Week thru 24-AUG-2022, inventories at 2997 BCF, 78% full.
Week thru 17-AUG-2022, inventories at 2898 BCF, 76% full.
Week thru 10-AUG-2022, inventories at 2793 BCF, 73% full.
Week thru 03-AUG-2022, inventories at 2691 BCF, 71% full.
Week thru 27-JUL-2022, inventories at 2589 BCF, 68% full.
Week thru 20-JUL-2022, inventories at 2493 BCF, 65% full.
Week thru 13-JUL-2022, inventories at 2396 BCF, 63% full.
Week thru 06-JUL-2022, inventories at 2312 BCF, 61% full.
Week thru 29-JUN-2022, inventories at 2215 BCF, 58% full.
Week thru 22-JUN-2022, inventories at 2100 BCF, 56% full.
Week thru 15-JUN-2022, inventories at 2004 BCF, 53% full.

[SpeedyInTexas]

[SpeedyInTexas]

Nat gas build pace has slowed.

In a month, EU will likely start pulling from storage.

It will be interesting to watch the drawdown rate.

[struggle]

>It will be interesting to watch the drawdown rate.

Supposed to be very cold weather in a week. Minus temps in UK and then extending down into Germany.

[struggle]

[Yo-Yo]

Question: How much total winter demand will this storage provide? 10%? 50%? 100%?

[SpeedyInTexas]

I don’t know. But nat gas in storage is not the primary source. Piped nat gas (Norway, Algeria, etc) and LNG will be the main source. Storage is a supplement.

[Cronos]

The good thing is that Germany is reversing its “close nuclear power plants” and Poland and Germany are both looking at starting up their coal powered plants again

[SpeedyInTexas]

“Cheniere’s LNG Facility Adds Third Dock to Boost Export Capabilities”

“The company is poised to become the first US LNG exporter with three docks, just as Europe desperately seeks more natural gas”

https://www.bloomberg.com/news/articles/2022-09-29/cheniere-energy-sabine-pass-lng-readies-tanker-berth-amid-europe-energy-crisis?srnd=premium