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Europe Likely to Move to Net Injections in March: ICIS

NATURAL GAS

Net injections into European gas storage could begin as early as March, according to ICIS.

  • “Injections in March likely at this moment indeed… around the 20th with current forecasts,” a trader told ICIS. “It’s amazing how much warmer the forecasts get each time.”
  • From Jan. 18, the ICIS TTF March/April spread moved to consistent contango, making it a likely choice for first injections into storage year 2024.
  • It is no longer a given that March TTF will trade to a premium to summer, as injection demand has become an equal contender to heating demand for determining gas prices, according to ICIS.

Source: ICIS

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