We are pleased to present Aurora’s latest North West European Gas System Performance Report.
- Gas prices: GB prices went down 6% month-on-month due to healthy supply, owing to increased LNG deliveries and indigenous production. Dutch prices also fell by 4% due to higher indigenous production than last month.
- Consumption: Gas consumption in NW Europe was up 9% (a 1.2 bcm increase) compared to September last year, recording over the 5 year trailing maximum. GB gas consumption stayed constant at 3.7 bcm, whilst gas consumption for Germany increased by 0.7 bcm and for France by 0.3 bcm.
- Supply: LNG imports increased by 1.3 bcm year-on-year, accounting for 11% of total gas supply, to make up for 0.2 bcm of lower indigenous production and 3.2 bcm of lower pipeline imports.
- Indigenous production: GB and Dutch production increased by 6% and 10% respectively month-on-month, to compensate for a decline in Norwegian pipeline imports. However, Dutch production fell by 7% year-on-year due to the lower production cap at Groningen, and GB production also saw a decrease of 4% over the same period time.
- Pipeline imports: NW European pipe imports were 3.2 bcm lower year-on-year. Norwegian flows saw a decrease of 2.8 bcm (68%) compared to the same period last year, largely driven by ongoing maintenance work and technical problems at offshore platforms and distribution terminals (i.e. the Troll field). Russian flows also were 0.4 bcm lower, with Nord Stream and the Polish route seeing declines of 0.2 – 0.3 bcm each. Nord Stream flows were lower due to the OPAL ruling.
- LNG: NW European LNG sent-out to regasification terminals increased by 8% month-on-month to fill the supply gap left by Norwegian pipeline imports. GB saw an almost 2-fold increase (0.6 bcm) month-on-month, which increased the share of LNG in GB gas supply by 13%-points across the same time periods. By contrast, the rest of NW Europe saw lower monthly utilisation rates than August.
- Storage: Storage injections being down 65% year-on-year, but with healthy margins in the run up to winter.
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