Global natural gas demand and production increased in September, while inventories reached record highs, particularly in Europe.
Global natural gas demand rose by 6.1 billion cubic meters bcm in September from a year earlier, and inventories jumped to a record high, the Joint Organizations Data Initiative JODI said in its monthly oil and gas overview on Monday. Worldwide natural gas production also rose year-over-year by 7.65 bcm in September, according to the latest data after 52 countries updated their self-reported figures in the JODI database.
Combined natural gas inventories in the EU and the UK rose by 2.3 bcm month-on-month and remained almost unchanged year-over-year, settling at 98.7 bcm in September, according to the JODI database. While global demand in September fell from August, the EU UK demand increased by 3.06 bcm month-on-month to settle at 21.9 bcm in September. In the middle of August, the EU reached its target of filling gas storage facilities to 90% of capacity 10 weeks ahead of the 1 November deadline.
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