Denmark's gas stocks at full capacity as spot price drops
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Loading... - Leon Muller
- 19 Oct 2022
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Denmark’s gas stocks are currently at capacity, national company Energinet and interest organisation Green Power Denmark told news wire Ritzau.
High storage levels in Europe are related to current low spot prices, but the stores alone are not enough to see Denmark through the entire winter.
The spot price of a commodity is the price at which it is traded for immediate delivery.
“Right now, the Danish gas stores are full to the brim with gas,” Green Power Denmark senior consultant Kristian Rune Poulsen told Ritzau.
“This means we are well stocked when we go into the winter. We can simply not get any more gas into storage than we have at the moment,” he said.
That means there are currently enough supplies to last Denmark two to three months according to the analyst.
As such, Denmark still needs to produce biogas and import some gas to have enough for the winter months.
European data shows comparable situations in bigger EU countries like Germany and France, and the spot price of gas is now at its lowest level for the last year.
Western Europe countries maximised gas storage during the summer to guard against a cold winter and high demand. Read More...
