French gas stocks at high levels before winter – network operators



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PARIS, November 30 (Reuters)France has sufficient gas storage to meet demand during the winter months, although careful monitoring of stocks will be necessary to ensure security of supply in the event of a cold snap, managers said on Tuesday. GRTgaz and Terega network.

However, too much pressure on storage at the start of winter would make the system increasingly dependent on gas imports, they added.

French gas storage was 95% full on November 1 due to a high filling rate during the summer months, with the price of French PEG gas remaining 1 to 2% lower than in neighboring countries.

Consequently, the capacities reserved for the various entry points at the borders of the network and for the withdrawal of storage are sufficient to meet demand in the event of a cold winter, operators said.

Inventories are full for the fourth year in a row and are at their highest for 10 years.

Storage withdrawals as well as imports will be necessary to meet demand during periods of excessive cold, even if the capacities reserved on these different sources of supply are slightly higher than the peak needs of demand, they specified.

No strain is expected at grid boundaries thanks to well-distributed sources of supply, including LNG supplies and imports from Spain, they said.

(Reporting by Forrest Crellin; Editing by Emelia Sithole-Matarise)

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