We are pleased to present Aurora’s latest North West European Gas System Performance Report.
Highlights of our August 2019 report include:
1. Gas prices: German prices rose by 3% month-on-month due to lower gas flows from Norway – caused by a gas terminal shutdown at Edman – whilst GB prices fell by 8%, driven by 0.2 bcm lower demand (roughly split between residential/commercial and power), year-on-year.
2. Consumption: Gas consumption in NW Europe was up 1% compared to August last year. A 0.5 bcm increase in France and a 0.1 bcm increase in the Netherlands was offset by a 0.2 bcm decrease in GB and a 0.3 bcm decrease in Germany.
3. Supply: The prevailing global LNG glut resulted in LNG imports to Europe increasing by 1.0 bcm year-on-year, accounting for 10% of total gas supply and directly lowering pipeline imports by 3.4 bcm (a decline in market share of 6%-points).
- Indigenous production: GB production was down 11% month-on-month, driven by a decline in domestic demand. Dutch production rose by 6% month-on-month, but was still 22% lower year-on-year due to the lower production cap at Groningen than the same period last year.
- Pipeline imports: NW European pipe imports were 3.4 bcm lower year-on-year. Norwegian flows saw a decrease of 1.8 bcm compared to the same period last year, whilst Russian flows were 1.6 bcm lower. Within Russian flows, the Czech route saw a slightly lower decline than the Polish route (0.7 bcm vs. 0.9 bcm, year-on-year).
- LNG: NW European LNG send-outs from regasification terminals fell by 17% month-on-month due to declining gas demand. GB saw the biggest fall (27% lower month-on-month). Dutch terminal utilisation decreased by 22%, due to 6% higher indigenous production and higher pipeline imports from Germany.
Storage: Storage injections were up 22% month-on-month – in the lead up to the heating season – but down 42% year-on-year due to higher inventories for this time of the year, owing to lower storage withdrawals over the last winter period.
In addition to downloading the reports in PDF format, you can also explore dynamic and customizable versions and underpinning data via EOS, our online data and analytics platform.
Not a subscriber? View an example of our NW Europe Gas System Performance report here