A decline in European gas demand enables a 14% week-on-week increase in storage injection

A decline in European demand, which appears to have taken place mostly in Southern and Western Europe, has enabled a 14% week-on-week increase in storage injections, which reached the highest weekly average since the start of July. This has happened despite LNG sendout continuing the steady reduction of recent weeks.

Despite fears of heatwaves impacting gas demand earlier in the course of the summer, European apparent demand has been between 1st April and 1st August ca. 2% lower than the previous year, when it had already seen especially low levels.

Source: Giovanni Bettinelli