Energinet is calling off ‘early warning’ to gas market

Since Tuesday evening 27 February, the Danish gas market has been in ‘early warning’ crisis mode, but, this morning, Energinet has informed the market players that the previously issued ‘early warning’ is no longer in force.

During the twenty days in which the ‘early warning’ has been in force, the players have drawn as much gas as possible from the two Danish underground gas storage facilities, but the volumes now being drawn have normalised to such an extent that it is no longer necessary to maintain the warning level.

The weather in both Denmark and the rest of Europe remains cold for the season, but the more spring-like temperatures have contributed to stabilising the situation, and price developments are currently stable throughout Europe.

Concurrently with the increase in temperatures, the gas supply from the North Sea is expected to normalise after a period – especially between 26 February and 10 March – of low gas volumes being supplied to Denmark due to maintenance work on the Tyra platform.

“We’re now seeing a more normal situation on the gas market than in the past twenty days, and we therefore believe that we can safely call off the ‘early warning’. However, we have pointed out to the market players that they have drawn heavily on the reserves in our gas storage facilities, which calls for continued close monitoring of the supply situation,” says Christian Meiniche Andersen, Head of Department in System Operation.



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