May 28, 2024 15:34 GMT
Gas Summary at European Close: TTF Falls
NATGAS
Front month TTF has erased the previous day’s gains amid higher Norwegian flows and strong seasonal gas storage levels.
- TTF JUN 24 down 5% at 33.48€/MWh
- TTF Q3 24 down 4.7% at 34.29€/MWh
- Maintenance at the UK’s St. Fergus gas terminal is set to last a few days longer than originally planned, further impacting gas flows from Norway, according to Gassco.
- Norwegian nominated flows to the UK and Northwest Europe terminals at 296.10 mcm/d vs 5-day moving average of 279.02 mcm/d accord to Gassco.
- European gas storage was 69% full on May 26 vs the 5-yr seasonal norm of 56% for this time of year according to GIE data.
- The EU adopted a law on Monday to monitor methane emissions from gas imports from 2030.
- Brunei LNG is working on restarting its onshore compressor plants following an outage on May 20, the company said Tuesday.
- Egyptian fertilizer production has slipped due to constrained natural gas supply for the country at present according to ICIS.
- Eni's Congo LNG project looks to be loading its second ever cargo with the Gaslog Savannah back in location at the west African project according to ICIS vessel tracking.
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