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EU Gas Steady as Ministers Consider Market Intervention

NATURAL GAS

TTF steady after another volatile week and ahead of the EU energy minister meeting today.

    • TTF OCT 22 down -2.5% at 215€/MWh
  • EU energy ministers are meeting to consider possible intervention measures in reaction to the surging energy prices. Possible measures include decoupling electricity from gas prices with consideration of how to help low market liquidity and ease margin costs. There is potential for a cap on electricity and some members also pushing for a cap on gas as well. Measures to ease prices are likely to come alongside targets for demand reduction.
  • Russian gas transit via Ukraine is stable at 42.5mcm/d with Norwegian supply nominated at 231.6mcm/d and still reduced due to maintenance.
  • An increase in LNG imports to NW Europe to over 210mcm/d has helped maintain injections into storage. EU total storage is now up to 82.77% full.
Energy BulletsCommodities
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