The storage of European natural gas has exceeded the 50%mark, but remains well below last year’s levels and the average of five years, which highlights the magnitude of the coming challenge. Concerns about the supply persist amid the reduction of Norwegian flows due to cuts and maintenance. LNG imports will be critical during the summer as competition with Asia intensifies, the FX analysts of Société Générale indicate.
LNG flows in the center of attention while Europe rushes to meet storage objectives
“In the natural gas market, European gas storage finally exceeded 50% of its capacity towards the end of last week. However, storage is still at a considerable distance from last year’s levels and the 5 -year average. This leaves the region with a fairly large task to achieve storage objectives.”
“The reduction of gas flows from Norway, thanks to cuts and planned maintenance, has increased concerns about the supply. LNG flows during the summer months must be closely monitored as competition increases with Asia.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
