- Nov 02, 2022, 5:00 PM CDT
As of October 31, gas storage sites in Europe were 95% full, with German storage at 99% full, according toThe comfortable storage levels, the high rate of LNG imports, and the mild weather in October and early November have eased concerns about gas supply and demand balances in the early part of the heating season.
“The latest bout of Covid restrictions in China and declining demand in Asia overall should see LNG imports remaining robust. This should ensure the record level of cargoes into north-west Europe and UK continues,” Refinitiv analysts toldHowever, the significant drop in Russian gas supply this year occurred only in June, meaning that Europe could still stock up on some Russian gas earlier this year.
Claudio Descalzi, the chief executive of Italy’s Eni, said on the same panel, “We are in good shape for this winter.”
February will be another story