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Northwest Europe gas system performance report – September 2020

We are pleased to present our latest Northwest European gas system performance report.

Highlights of our September 2020 report include:

  • Gas prices: Average NW European gas prices in September rose to 10.6€/MWh, up 42% month-on-month. Decreased pipeline flows from Norway and increased gas consumption in heating and power put upward pressure on gas prices in North West Europe
  • Consumption: NW European Gas consumption in September increased by 6% year-on-year due to higher gas for power demand compared to the same period last year, to offset low French and UK nuclear availability
  • Supply: Norway pipeline imports increased by 2.3 bcm year-on-year, leading to Norway pipeline’s share of gas supply to increase from 26% to 34% at the expense of indigenous production (-0.7 bcm) and LNG (-0.2 bcm), which saw their share of gas supply decrease by 5%-points and 2%-points. Russian pipeline imports declined by 0.3 bcm across the same time period due to maintenance works in Nord Stream and strong Norwegian flows, which directly lowered the share of Russian pipeline share by 4%-points
  • Indigenous production: Indigenous production in the Netherlands and the UK declined by 19% and 12% respectively year-on-year in September due to robust Norwegian gas flows. Compared to August, however, GB production increased by 4% to meet higher residential gas demand due to colder weather
  • Pipeline imports: Total pipeline imports increased by 14% year-on-year in September, driven by 2.4 bcm higher flows from Norway which were compensated for a decrease of 0.5 bcm in Russian gas flows. Within Russia flows, pipeline imports coming through Nord Stream saw the largest decline of 0.6 bcm, whilst gas flows via the Polish route increased by 0.2 bcm to offset lower deliveries via Velke Kapusany as Ukraine’s virtual reverse flows limited Russia pipeline flows entering Europe
  • LNG: Whilst LNG volumes were 5% lower month-on-month across NW Europe as a whole due to higher pipeline flows, Belgium saw regasification terminal utilisation increase by 44% across the same time period to compensate for declines in pipeline gas imports from the UK and Norway
  • Storage: The UK saw net withdrawals of 0.2 bcm, which occurred earlier compared to last September, to meet higher gas demand. Net storage injections increased by 10% year-on-year led by a 0.8 bcm increase in gas injections in Dutch storage

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