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European Gas Supply Disruption Continues

NATURAL GAS

TTF up 2.8% to 124€/MWh as supply issues continue.

  • European members continue to battle with lower gas deliveries from Russia. Denmark yesterday activated the first step in their three stage emergency gas supply plan and Italy has stated they may introduced their emergency plan if disruption continues into the middle of this week. Members are looking at ways to use alternative power sources and are urging customers to lower consumption. Germany, Austria and Netherlands are already looking to coal generation to help ease gas demand and maintain gas flows into storage ahead of the winter.
  • Flows from Russia are unchanged with Nord Stream at 64.7mcm/d and transit through Ukraine at 42.2mcm/d.
  • Norwegian supply is down 20mcm today at 304.2mcm/d and storage is still filling and up to 54.75% full.

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