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Europe Struggles to Fill Storage due to Supply Disruption

NATURAL GAS

European gas prices continues higher as the Russian supply disruption continues. TTF is up 4.7% to 134.5€/MWh.

  • Nord Stream flows continue at the same reduced rate with still no sign of a return to full capacity. European nations are monitoring the supply very closely as significant fears that an extended disruption or even a complete halt could limit the ability to fill gas storage ahead of next winter. Flows through Nord Stream are unchanged with nominations for 64.65mcm/d and flows through Sudzha in Ukraine are at 42.1mcm/d.
  • With limited supply and prices so high European gas storage is not filling as fast and even fell slightly in the latest data for 25th June to 55.71%.
  • Supply through Norway is back at 319.8mcm/d after the end to the outage at Ormen Lange and LNG supply remains above normal for the time of year.

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