MNI BRIEF: China To Enhance Customs Clearance

MNI BRIEF: China Consumer Satisfaction Up

MNI: PBOC Net Drains CNY68.6 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1728 Thurs; -0.64% Y/Y

MNI China Press Digest March 13: SMEs, Shipping, Guangdong

MNI BRIEF: US Budget Deficit At $1.15T Thru Feb

MNI: SWEDEN FINAL FEB CPIF +2.9% Y/Y

MNI: US FEB TREASURY BUDGET -$307.0B

EZ/UK T-Bill Calendar: 1/3/6-month UKTB Due Thursday

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NATGAS: Gas Summary At European Close: TTF Rallies

NATGAS
Energy BulletsBulletPower BulletsCommodities

TTF has rallied to its highest level since February 2023 today amidst risks of increased gas storage withdrawals this week owing to a forecast drop in temperatures. Increased Ukrainian imports are also supporting higher pricing. 

  • TTF MAR 25 up 4.6% at 58.3€/MWh
  • Temperatures in NW Europe are forecast near normal early this week before falling below normal towards the weekend while wind generation is also lower from the middle of this week.
  • European net gas storage withdrawals fell back below normal after strong levels seen much of last week. Storage has fallen to 49.02% full on Feb. 8, according to GIE, compared to the previous five year average of 57.1%.
  • European LNG sendout remains strong with flows to NW Europe at 268mcm/d on Feb. 8 compared to an average so far in February of 263mcm/d.
  • Europe’s gas storage injections could surge to 55 bcm this summer, according to IEA analyst Greg Molnár.
  • High TTF pricing may support gas-to-gasoil switching in Europe, Bloomberg reports.
  • At least two LNG vessels are waiting outside Belgium’s Zeebrugge to receive cargoes from Russia’s Yamal LNG as transshipments rise ahead of the EU ban, according to Bloomberg.
  • Ukraine continues to import higher levels of gas to support domestic demand this winter due to cold weather and damaged infrastructure, helping to add to TTF support.
  • Egypt’s purchase of 60 LNG cargoes from Shell and Total – around 4.3m mt in total - is set to be bullish for both JKM and NWE LNG, Platts said.
  • India’s top importers holding talks to buy more LNG from US suppliers, Bloomberg reports.
  • ADNOC has agreed to supply 2.5m tons of LNG to India's Bharat Petroleum Corp for five years starting from April, according to Reuters.
275 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

TTF has rallied to its highest level since February 2023 today amidst risks of increased gas storage withdrawals this week owing to a forecast drop in temperatures. Increased Ukrainian imports are also supporting higher pricing. 

  • TTF MAR 25 up 4.6% at 58.3€/MWh
  • Temperatures in NW Europe are forecast near normal early this week before falling below normal towards the weekend while wind generation is also lower from the middle of this week.
  • European net gas storage withdrawals fell back below normal after strong levels seen much of last week. Storage has fallen to 49.02% full on Feb. 8, according to GIE, compared to the previous five year average of 57.1%.
  • European LNG sendout remains strong with flows to NW Europe at 268mcm/d on Feb. 8 compared to an average so far in February of 263mcm/d.
  • Europe’s gas storage injections could surge to 55 bcm this summer, according to IEA analyst Greg Molnár.
  • High TTF pricing may support gas-to-gasoil switching in Europe, Bloomberg reports.
  • At least two LNG vessels are waiting outside Belgium’s Zeebrugge to receive cargoes from Russia’s Yamal LNG as transshipments rise ahead of the EU ban, according to Bloomberg.
  • Ukraine continues to import higher levels of gas to support domestic demand this winter due to cold weather and damaged infrastructure, helping to add to TTF support.
  • Egypt’s purchase of 60 LNG cargoes from Shell and Total – around 4.3m mt in total - is set to be bullish for both JKM and NWE LNG, Platts said.
  • India’s top importers holding talks to buy more LNG from US suppliers, Bloomberg reports.
  • ADNOC has agreed to supply 2.5m tons of LNG to India's Bharat Petroleum Corp for five years starting from April, according to Reuters.