Europe & Russia: Storage
Net withdrawals of gas from storage have started in Europe and Ukraine.
Stock levels in Europe have dropped by roughly 4% since late October. Europe had around 908 TWh of gas in stock in mid-November, down by around 1% on an annual basis, according to Gas Infrastructure Europe data. Steady net withdrawals started roughly 10 days later than last year and the pace of withdrawals has so far been slower. Stock levels fell by around 6% over the first half of November 2016 compared with roughly 4% this year. In major European markets – including Germany, Italy and Spain – stock levels are still above the average for this time of year seen over the past three years.