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NATGAS: Gas Summary at European Close: TTF Ticks Up

NATGAS
Energy BulletsBulletPower BulletsCommodities

TTF is headed for modest gains today continuing to extend recent support on the Ukrainian gas transit ending this month.

  • TTF JAN 25 up 0.4% at 45.72€/MWh
  • TTF Q1 25 up 0.6% at 45.92€/MWh
  • TTF has risen by more that 10% in the last four trading sessions, driven by the Ukraine transit issue.
  • Prices have also found support on colder weather and gas stockpiles that have depleted faster than normal.
  • Ukrainian officials including Zelensky have publicly stated they will not support Russian gas being transited unless the Kremlin will not finically benefit.
  • Russian president, Vladimir Putin met the Slovakian prime minister, Robert Fico, in the Kremlin on Sunday, a rare visit by a European Union leader to Moscow, as a contract allowing for Russian gas to transit through Ukraine nears expiry.
  • Ukrainian President Volodymyr Zelenskiy said on Monday that Slovak Prime Minister Robert Fico declined a compensation offer for losses because of the gas transit deal ending.
  • Gas demand in Europe is up this year as prices have been more conductive to demand recently.
  • Halted flows may intensify competition for LNG with Asia though cargo availability remains fairly plentiful.
  • European gas storage was 76% full on Dec. 22 vs the 5-yr seasonal norm of 79% for this time of year according to GIE.
  • Qatar's LNG vessel Al Thakhira is diverting from Belgium to India according to ICIS tracking.
  • QatarEnergy is expected to shift its LNG strategy towards shorter contracts and spot market volumes, Platts said
  • The EU aims to end Russian fossil fuel imports by 2027, with the 14th sanctions package prohibiting transshipment of Russian LNG through EU ports from March, Platts said.
  • Colombia’s December LNG imports are set to hit a record high, according to Platts.
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TTF is headed for modest gains today continuing to extend recent support on the Ukrainian gas transit ending this month.

  • TTF JAN 25 up 0.4% at 45.72€/MWh
  • TTF Q1 25 up 0.6% at 45.92€/MWh
  • TTF has risen by more that 10% in the last four trading sessions, driven by the Ukraine transit issue.
  • Prices have also found support on colder weather and gas stockpiles that have depleted faster than normal.
  • Ukrainian officials including Zelensky have publicly stated they will not support Russian gas being transited unless the Kremlin will not finically benefit.
  • Russian president, Vladimir Putin met the Slovakian prime minister, Robert Fico, in the Kremlin on Sunday, a rare visit by a European Union leader to Moscow, as a contract allowing for Russian gas to transit through Ukraine nears expiry.
  • Ukrainian President Volodymyr Zelenskiy said on Monday that Slovak Prime Minister Robert Fico declined a compensation offer for losses because of the gas transit deal ending.
  • Gas demand in Europe is up this year as prices have been more conductive to demand recently.
  • Halted flows may intensify competition for LNG with Asia though cargo availability remains fairly plentiful.
  • European gas storage was 76% full on Dec. 22 vs the 5-yr seasonal norm of 79% for this time of year according to GIE.
  • Qatar's LNG vessel Al Thakhira is diverting from Belgium to India according to ICIS tracking.
  • QatarEnergy is expected to shift its LNG strategy towards shorter contracts and spot market volumes, Platts said
  • The EU aims to end Russian fossil fuel imports by 2027, with the 14th sanctions package prohibiting transshipment of Russian LNG through EU ports from March, Platts said.
  • Colombia’s December LNG imports are set to hit a record high, according to Platts.