Europe Gas Price Puzzle: Temperature, Wind Speed and Gas Storage

(10 November 2021) A mismatch between natural gas demand and supply in Europe has pushed natural gas spot prices to record highs. In this dashboard we put together data on four key short-term indicators that will shape natural gas prices in Europe this winter: air temperature; wind speed in the North Sea; volume of natural gas in storage; and industrial production.

  • Air temperature determines how much energy is needed to heat/cool down homes and buildings in winter/summer.
  • Wind speed in the North Sea determines the amount of electricity generated by wind turbines.
  • Volume of natural gas in storage shows current availability of natural gas in inventories.
  • Industrial production indicates changes in demand for energy in the real sector.

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Average Mean Monthly Temperature in Ten Most Populous EU Cities Untitled Average Mean Daily Temperature in Ten Most Populous EU Cities Untitled
Average Mean Monthly Wind Speed (Knots) in the North Sea Untitled Average Mean Daily Wind Speed (Knots) in the North Sea Untitled
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