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EU Pulls Back with Focus on Future Ukraine Transit Gas

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TTF pulls back after a rally yesterday as the market weighs future pipeline gas supplies from Russia to Europe. Slovakia PM sees possible “elegant” technical solutions to gas supplies and will discuss with Von der Leyen on Thursday, Bloomberg said.

  • Above normal temperatures and strong wind this week are limiting demand, but both are forecast to drift lower through the last week of the month.
  • European gas storage was 77.49% full on Dec. 16, according to GIE, compared to the previous five year average of 80.5%. Withdrawals are back near normal after surging to the highest since Jan. last week.
  • European LNG sendout has fallen again as supply to NW Europe is the lowest since the start of the month at 188mcm/d from a high of 275mcm/d on Dec. 12.
  • Norwegian pipeline supplies to Europe are at 336.8mcm/d today, according to Bloomberg. Gassco shows capacity reductions due to unplanned outages at Kollsnes, Karsto and Gullfaks today.
  • Gas transit flows via Sudzha are at 42.3mcm/d today, according to Ukraine’s gas transmission operator.
  • Algeria gas flow to Italy at Mazara is 53.9mcm/d today, according to Bloomberg.
  • ICE TTF daily aggregate traded futures volume was 389k on Dec. 17.
    • TTF JAN 25 down 1% at 41.65€/MWh
    • TTF Q1 25 down 1% at 41.77€/MWh
    • TTF SUM 25 down 0.8% at 41.3€/MWh
    • TTF WIN 25 down 1% at 39.19€/MWh
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TTF pulls back after a rally yesterday as the market weighs future pipeline gas supplies from Russia to Europe. Slovakia PM sees possible “elegant” technical solutions to gas supplies and will discuss with Von der Leyen on Thursday, Bloomberg said.

  • Above normal temperatures and strong wind this week are limiting demand, but both are forecast to drift lower through the last week of the month.
  • European gas storage was 77.49% full on Dec. 16, according to GIE, compared to the previous five year average of 80.5%. Withdrawals are back near normal after surging to the highest since Jan. last week.
  • European LNG sendout has fallen again as supply to NW Europe is the lowest since the start of the month at 188mcm/d from a high of 275mcm/d on Dec. 12.
  • Norwegian pipeline supplies to Europe are at 336.8mcm/d today, according to Bloomberg. Gassco shows capacity reductions due to unplanned outages at Kollsnes, Karsto and Gullfaks today.
  • Gas transit flows via Sudzha are at 42.3mcm/d today, according to Ukraine’s gas transmission operator.
  • Algeria gas flow to Italy at Mazara is 53.9mcm/d today, according to Bloomberg.
  • ICE TTF daily aggregate traded futures volume was 389k on Dec. 17.
    • TTF JAN 25 down 1% at 41.65€/MWh
    • TTF Q1 25 down 1% at 41.77€/MWh
    • TTF SUM 25 down 0.8% at 41.3€/MWh
    • TTF WIN 25 down 1% at 39.19€/MWh