The atmosphere in the European gas market remains nervous: the next futures contract for the TTF reference price is now being negotiated 5% above Tuesday, points out the commerzbank raw material analyst, Barbara Lambrecht.
Two thirds of the gas storage installation in Breitbrunn are still empty
“EU storage facilities have recently been filled faster than in previous years and, therefore, the gap with the average of 5 years has been reduced. So far the good news. However, much effort will probably be required to fill the storage facilities before the start of next winter.”
“This is particularly true in Germany, where the filling level is currently only 44% according to the GIE (while the EU as a whole has already reached a 52% filling level). The news that the operator of what claims to be the third largest gas storage installation in Germany has not again managed to find a bidder for additional gas storage capacity has caused concern.”
“This means that C. The operator had already announced that the 80% critical filling level from November 1 could no longer be achieved due to the slow injection rate for technical reasons. Therefore, this year’s recharge phase will not be a walk in the park.”
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.
