Easy Money in European Gas Thwarted by Brimming Stockpiles
- Winter-summer season spread most profitable since 2011
- Gas storage capacity has shrunk 4 percent over past two years
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Buying European natural gas in the summer to sell during winter is the most profitable it’s been for eight years -- at least on paper. The trouble is there’s no room to store it.
An unusually mild winter means fuel supplies are above average for this time of year and capacity at stores from salt caverns to depleted gas fields is almost booked out. The situation has been compounded by record levels of liquefied natural gas tankers to the region and a shrinking amount of storage space overall.