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NATGAS: Gas Summary at European Close: TTF Loses Ground

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TTF has fallen to its lowest since Nov. 13, with cooler weather expected to give way to milder, windier weather next week. This will limit gas demand and ease pressure on storage.

  • TTF JAN 25 down 3.3% at 44.93€/MWh
  • TTF Q1 25 down 3.1% at 44.99€/MWh
  • Temperatures in NW Europe are forecast slightly below normal in the coming week before rising back above normal into the second half of December.
  • Norwegian pipeline supplies to Europe are 331.4mcm/d today, Bloomberg said.
  • European gas storage is down to 82.38% full on Dec. 7, according to GIE, compared to the previous five-year average of 84.4%.
  • Demand just below seasonal normal and higher LNG sendout over the last two weeks has started reducing the need to increase imports in 2025 to plug the gap in storage volumes compared to last year, GFB Insights said.
  • JKM is expected to remain largely stable in the week to Dec. 13, amid weak demand from end-users across the region, Platts said.
  • Qatar has no concerns about the U.S. lifting a cap on LNG exports and increasing competition its energy minister Saad al-Kaabi said on Saturday.
  • India’s Chhara LNG terminal will receive its commissioning cargo in January according to Bloomberg sources.
  • Russia has extended the deadline to sell ExxonMobil’s stake in Sakhalin-1 to Jan. 1, 2026 according to Interfax.
  • Russia’s Gazprom sent record daily gas levels to China via the Power of Siberia on Saturday it said without offering a figure.
  • China may resell more LNG cargoes amid weak domestic industrial demand while higher spot rates boost re-export profitability, according to ENN.
  • Egypt’s gas output continued its downward trajectory in October, falling to a seven-and-a-half year low, according to MEES.
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TTF has fallen to its lowest since Nov. 13, with cooler weather expected to give way to milder, windier weather next week. This will limit gas demand and ease pressure on storage.

  • TTF JAN 25 down 3.3% at 44.93€/MWh
  • TTF Q1 25 down 3.1% at 44.99€/MWh
  • Temperatures in NW Europe are forecast slightly below normal in the coming week before rising back above normal into the second half of December.
  • Norwegian pipeline supplies to Europe are 331.4mcm/d today, Bloomberg said.
  • European gas storage is down to 82.38% full on Dec. 7, according to GIE, compared to the previous five-year average of 84.4%.
  • Demand just below seasonal normal and higher LNG sendout over the last two weeks has started reducing the need to increase imports in 2025 to plug the gap in storage volumes compared to last year, GFB Insights said.
  • JKM is expected to remain largely stable in the week to Dec. 13, amid weak demand from end-users across the region, Platts said.
  • Qatar has no concerns about the U.S. lifting a cap on LNG exports and increasing competition its energy minister Saad al-Kaabi said on Saturday.
  • India’s Chhara LNG terminal will receive its commissioning cargo in January according to Bloomberg sources.
  • Russia has extended the deadline to sell ExxonMobil’s stake in Sakhalin-1 to Jan. 1, 2026 according to Interfax.
  • Russia’s Gazprom sent record daily gas levels to China via the Power of Siberia on Saturday it said without offering a figure.
  • China may resell more LNG cargoes amid weak domestic industrial demand while higher spot rates boost re-export profitability, according to ENN.
  • Egypt’s gas output continued its downward trajectory in October, falling to a seven-and-a-half year low, according to MEES.