France has enough natural gas to cope with a cold winter even in more extreme weather conditions and will not experience shortages, helped by imports from other European countries, the French grid operator "Jer Te Gas" said today. (GRTgaz) and the operator of the French gas network "Terega" (Terega) in a report cited by Reuters, BTA reported.
Warmer-than-average winter temperatures and measures to curb demand have helped France weather the worst of a surge in energy prices in the two years since Russia's 2022 invasion of Ukraine, but questions remain on resistance to extreme temperatures.
A possible shutdown of Russian gas supplies to Europe via Ukraine in January 2025 could be problematic for Eastern Europe, but is not expected to have a significant impact this winter thanks to good storage levels, the operators said in their report.
The country's gas storage facilities are currently 95 percent full, although gas levels should be maintained in case of a cold snap, operators said.
With regular gas supplies from Norway, the Netherlands and Spain, as well as liquefied natural gas (LNG), storage is sufficient for an extremely cold winter scenario for the French grid, they added.
By the end of the year, the capacity for regasification of liquefied natural gas in Europe is expected to increase by 13 percent compared to 2023, according to the data of "Ger Te Gas" and "Terega".
But even in a very cold winter, France can count on regular gas transit to Belgium, Germany and Switzerland, the groups said.
Wholesale gas prices are around €40 per megawatt hour (MWh) in both the spot and futures markets, with price volatility easing significantly, reflecting greater confidence in European gas supplies, operators said in his report.