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European gas lowest since Feb

NATURAL GAS

TTF down 4.5% to the lowest since 22nd Feb at 84.0€/MWh.

  • Flows from Russia continue as the risk of disruption due to contract payments has reduced. Supply from Russia to Finland was cut off on Saturday on the back of Finland’s decision to join NATO.
  • Flows from Russia transit through Ukraine are lower than last week but still at 43mcm/d with flows via Nord Stream steady at 73.4GWh/h.
  • European storage levels are up to 42.6% as they continue to fill quickly and are nearing the 5-year average level for the time of year.
  • LNG supply remains healthy but gas supply from Norway is slightly down at 304.2mcm/d.

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