Gas stocks at record high due to mild winter in Europe

Europe is on track to end the winter with a record volume of gas in storage. During the current winter, the North Atlantic Oscillation has a strong positive affect. Pressure differentials between the Greenland-Iceland low-pressure area and the Bermuda-Azores high-pressure area have been greater than normal, accelerating transfer of warm, moist air into Northwest Europe. The result has been higher temperatures and wind speeds than average, reducing heating demand and at the same time boosting wind generation.