Higher gas demand and high storage withdrawal rates in November had led to the expectation Europe would need an additional 5-6 Bcm of LNG imports in 2025.
However, demand just below seasonal normal and higher LNG sendout over the last two weeks have already started reducing the need to increase imports in 2025 to make up for the gap in volumes in storage compared to last year.
Specifically, the last two weeks have already cut this additional demand for imports by 1 Bcm, with further reductions likely in the coming weeks.
This means that the actual long-term impact of the weeks of higher demand in November (the only change to supply-demand fundamentals since the start of the winter) may be fairly limited.
Source: Giovanni Bettinelli
European Gas Hub is an online platform for sharing analysis and information about European natural gas markets more info
Sign up to receive our weekly newsletter with new European gas market reports, presentations & analysis. Every Tuesday.
By signing up, I agree to our TOS and Privacy Policy.
© 2020 EuropeanGasHub | All Rights Reserved
