France Prepares Better for Winter

摘要

France is entering this winter much better prepared than it was ahead of the past two winters, according to the 2014-15 Winter Outlook released last week by its main gas grid operator, GRTgaz. The less volatile, more benign market has led to such a narrowing of prices between northern France's Peg Nord region, which accounts for 85% of the country's gas consumption, and the smaller and previously constrained southern hub, Peg Sud, that the price gap vanished in recent weeks. Prices at both French hubs also slipped below that on the Dutch TTF, continental Europe's main gas hub.