Europe & Russia: Storage
The closure of the UK’s Rough gas storage site and technical issues with facilities in the Netherlands will limit the flexibility of European storage supplies this winter.
The UK is facing its first winter without the use of Rough, with the country’s stocks down by around 62% on an annual basis in mid-September. LNG will be key this winter, but levels of LNG in stock fell during the first part of September and were down by 26% on an annual basis by the middle of the month. Although further imports will raise storage volumes before winter begins, the UK market will be vulnerable to supply tightness during periods of peak demand during the season.
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