Thursday, March 09, 2006

Weds Demand low, but still gas taken from storage

Wednesday's gas day is a good example of things not really working as they should. Demand was a relatively low 319 mcm (although I have found that this is never as clearcut as you would expect). Imports, however, dropped to 303.5 Gwh (about 27 mcm). This meant that 30 GWh (about 3 mcm) was still taken from storage.

It is not certain that this will be a problem. Again, however, there are risks where the upside is negligable, but the downside of a gas shortage is material.

Short Term Storage (LNG) is now at 1044 GWh (about 95 mcm). The maximum extract rate is at 526 GWh/d. Hence it is now below the 2 day threshold even if the safety monitor is zero.

Medium Term Storage is at 2645 GWh (about 250 mcm). This is about 36% of capacity.

Long Range Storage is still not working properly although 5GWh came out yesterday.


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