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EU Supplies Steady as Storage Nears 90%

NATURAL GAS

TTF front month is edging higher with steady supplies and ongoing EU efforts to reduce demand.

    • TTF NOV 22 up 1.9% at 177€/MWh
  • EU agreed to the latest round of sanctions against Russia including support for a price cap on oil sales to third countries. Ursula von der Leyen is still pushing for a European gas price cap until formation of a new gas index more representative of the LNG supplied market.
  • Reports of a feedpipe force majeure to Petronas LNG and potential for disruption to exports could add to the tight global supplies.
  • Weather in NW Europe is currently forecast above normal until the middle of the month before a slightly dip below from Oct 15.
  • LNG imports remain strong with prices encouraging supply to Europe throughout the coming winter. Flows are enabling storage injections with European stocks now up to 89.85% full.
  • Pipeline supplies are stable with Norwegian flows nominated at 327.3mcm/d while Russian flows through Ukraine are nominated at 42.4mcm/d.
Energy BulletsCommodities
Energy BulletsCommodities

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