UK supply pressure dents medium-range stocks
Rough, the UK’s only long-range site, was 96.7% full at 06:00 hours (BST) on 21st August, with an estimated 3.21 billion cubic metres (Gm3), according to National Grid data. This is up from 3.16 Gm3 on 15th August.
Medium-range storage sites, which include Hatfield Moor, Hole House Farm, Hornsea and Humbly Grove, recorded a decline in stocks week-on-week. Storage levels at the sites were estimated at 76.7% fullness or 611.45 million cubic metres (Mm3), down by just over 7% on the previous week. Exports from medium-range sites have been used to help balance the system recently due to offshore field maintenance in Norway and the UK (see ESGM 14.160). On 21st August, around 6–8 Mm3 was withdrawn from Hornsea, according to National Grid data. This partly reflects underlying confidence in the market that there will be enough lower-priced days during the remainder of the summer to restock these sites. Within-day was valued more than 5.00 p/th higher than WDNW on 21st August.
Stock levels at the UK’s LNG storage sites were estimated at 190.32 Mm3 or 72.3% fullness, compared with 188 Mm3 on the 15th August. DM
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