Natural gas prices in Europe are plummeting as storage nears capacity due to unseasonably warm weather across the continent.
- Oct 27, 2022, 9:00 AM CDT
Kemp recalled that in Germany, heating season started earlier than usual this year, amid a colder than usual September, suggesting the weather is not something to base your hopes and plans on.an analyst and meteorologist from an Italian energy company as saying that “The European gas glut is expected to last until at least December. It is unlikely Europe will see a prolonged cold spell in November.
Yet once storage is full, it’s full, and you cannot add more to it. This is when Europe’s gas storage turns into a constraint. The constraint can be circumvented with floating storage, which is what is already happening. Reutersearlier this month that LNG tankers were idling off the coast of Spain and the UK, waiting to unload or waiting for prices to go higher.
France Dernières Nouvelles, France Actualités
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