Aurora’s gas system performance report provides a monthly snapshot of key operating characteristics for the European gas market. The key statistics include prices, volumes, trade, suppliers market share, indigenous production flexibility and storage provision for security of supply.
Highlights of our March 2018 report include:
- Gas prices: Continued cold weather drove prices to record highs in the first week of March, causing monthly prices everywhere except Germany to remain elevated.
- Consumption: Colder weather at the beginning of March kept monthly consumption above the 5 year average, with GB driving the increase.
- Supply: Russian and Norwegian pipeline imports increased from February. With LNG imports also increasing, the contribution of storage fell from 30% to 20% of NWE supply.
- Indigenous production: Dutch and GB production increased by 4% and 2% respectively from February, but production swing remained almost 60% lower than historic.
- Pipeline imports: Imports from Norway increased by 1 bcm month-on-month after outage issues of late February were resolved; Russian pipeline share also increased by 1%.
- LNG: GB and French LNG regasification terminal utilisations increased above year to date average levels, but overall LNG send-outs in NW Europe were 24% lower year-on-year.
- Storage: Following the February withdrawals, inventory levels remained below the 5 year average; GB had less than 1 day of demand in store at the end of March.
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