European pure Fuel storage has surpassed the 50% mark, however stays properly beneath final 12 months’s ranges and the five-year common, highlighting the size of the problem forward. Provide issues persist amid diminished Norwegian flows because of outages and upkeep. LNG imports might be essential by way of summer time as competitors with Asia intensifies, Société Générale’s FX analysts observe.
LNG flows in focus as Europe scrambles to satisfy storage targets
“Within the pure Fuel market, European Fuel storage lastly broke above 50% full in direction of the tip of final week. Nevertheless, storage nonetheless stays far away from year-ago ranges and the 5-year common. This leaves the area with a reasonably large job to hit storage targets.”
“Decreased Fuel flows from Norway, due to outages and deliberate upkeep, added to provide issues. LNG flows by way of the summer time months will must be watched carefully as competitors with Asia will increase.”
