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European Gas Prices Continue to Pull Back


European gas prices continue to pull back as supply fears ease. Germany’s Habeck said yesterday that Germany can’t rely on gas supplies from Russia this winter. The regulator has suggested easing concerns due to new LNG supplies, cuts in demand and building storage levels.

    • TTF OCT 22 down -4.3% at 232.5€/MWh
    • TTF WIN 22 down -4.3% at 232.54€/MWh
  • Nord Stream flows are still zero today with current nominations suggesting a resumption of flows from 02:00 tomorrow. Russian supply through Ukraine is steady at 42.4mcm/d.
  • Maintenance and outages are limiting Norwegian production with nominations today falling to 283.9mcm/d. Planned maintenance is expected to restrict output throughout September.
  • European storage is still slowly building to 80.35% despite the Nord Stream outage.

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