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European gas storage operators under pressure

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24 August 2017

European gas storage operators under pressure

Report summary

The market value of gas storage is to a large extent determined by the summer-winter spread of gas prices.  In recent years these spreads have fallen to levels where some storage operators/owners are struggling to cover their annual operating costs.  This has contributed to 8 bcm of capacity being closed or mothballed in Europe since 2010, despite overall capacity in the region growing by 18 bcm. Wood Mackenzie has carried out some sensitivity analysis, reducing storage capacity by 25% in north west Europe to see what the impact on price spreads might be.  We have also assessed what the price impact of a particularly cold winter might be under these conditions.

Table of contents

    • The European storage landscape
      • Table 2: Individual Country Storage Cover 2017
    • The use of storage in today's gas market
    • Can the market sustain current storage capacity?
    • Gas storage in an over-supplied European market
    • Conclusions

Tables and charts

This report includes 8 images and tables including:

  • European gas storage operators under pressure: Table 1
  • Figure 1: Storage Cover in the EU 2010-2017
  • Figure 2: Continental EU Storage Use 2016/2017
  • Figure 3: TTF Summer-winter spreads vs storage tariffs
  • Figure 4: Gas Storage as guarantor of supply security/The role of storage
  • Figure 5: Summer-winter spreads forecast with 25% northwest European storage capacity reduction
  • European gas storage operators under pressure: Table 2
  • Table 3: Gas storage closures in Europe

What's included

This report contains:

  • Document

    European gas storage operators under pressure

    PDF 447.61 KB

  • Document

    Storage data.xlsx

    XLSX 1.01 MB

  • Document

    European gas storage operators under pressure

    ZIP 1.40 MB

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