We are pleased to present Aurora’s latest North West European Gas System Performance Report.
Highlights of our November 2019 report include:
- Gas prices: GB prices rose by 47% month-on-month due to increased gas demand for heating and power, but fell by 40% year-on-year due to the supply glut caused by ample LNG cargoes, bringing the highest LNG consumption to 2.0 bcm since February 2013 when EOS data began.
- Consumption: Gas consumption in NW Europe was up 16% compared to November last year, leading to staying the 5 year trailing maximum. A 0.8 bcm decrease in France was largely offset by a 0.8 bcm increase in GB and a 3.7 bcm increase in Germany.
- Supply: The prevailing global LNG glut caused by flooded spot cargoes resulted in LNG imports to Europe increasing by 2.4 bcm year-on-year, pushing up the share of LNG in total gas supply by 7%-points which directly lowered storage withdrawals by 1.1 bcm compared to the same period last year.
- Indigenous production: GB production was down 3% month-on-month due to strong Norwegian gas flows. Dutch production rose by 71% month-on-month to meet higher consumption in the residential sector due to colder weather.
- Pipeline imports: NW European pipe imports were 0.7 bcm lower year-on-year. Norwegian flows remained constant to 9.5 bcm compared to last November, whilst Russian flows fell by 0.7 bcm. Within Russian flows, the Czech route and the Austria route saw a 0.7 bcm decrease and a 0.2 bcm decrease respectively, which offset a 0.1 bcm higher flow via Nord Stream.
- LNG: NW European LNG send-outs from regasification terminals rose by 67% year-on-year due to an increase of LNG imports driven by global LNG surplus. France saw the biggest increase (1.1 bcm higher year-on-year) with 90% utilisation rate on average (69% higher year-on-year). The Zeebrugge LNG terminal in Belgium also saw 256% higher terminal utilisation rate compared to last November.
- Storage: Storage withdrawals were down 42% year-on-year as increased LNG imports contribute to meet high winter demand as marginal supply in the NW gas system.
In addition to downloading the reports in PDF format, subscribers can also explore dynamic and customisable versions and underpinning data via EOS, our online data and analytics platform.
If you have questions, or would like to become a subscriber, please get in touch.
Not a subscriber? View an example of our NW Europe Gas System Performance Report here.