I certainly don’t think there’s a storage build. Do you have data on that? I’d be interested. What I do know is that Germans are telling me that their economies are shutting down, and people are panicking. Admittedly that’s anecdotal, but family members, German friends, and even a German pilot at the gym have all been saying the same thing.
“I certainly don’t think there’s a storage build.”
Of course I have the data! I post EU nat gas storage data every Wed (or so).
Here is the latest from last week. I’ll post again this Wednesday or Thursday.
https://freerepublic.com/focus/f-chat/4078168/posts
EU nat gas storage build has increased since July 11th, even with Nordstream I shutdown.
Now within the EU, only 1 country has a net withdrawal. That country? Germany. Nearly all other EU countries have continued to build. EU overall is a net build. So far.
July 13 inventories were at 2396 BCF. Currently at 2427 (https://www.celsiusenergy.net/p/european-natural-gas-inventories.html#box18)
EU experiencing a heat wave right now. So this is probably “peak summer” right now.
Looking ahead, I would guess Western Europe will be fine this winter. Germany could be the exception. Will they complete their floating LNG terminal soon? I posted a picture of it under construction a while back. From memory I think they targeted 1-2 terminals to be completed later this year and 1-2 early next year? Been a while since I looked at that.
Yes, they are leasing 4 floating LNG terminals. From memory I think there were like 5 available around the world. Germany grabbed 4 of them.
“Germany Rents Floating LNG Hubs to Cut Reliance on Russian Gas”