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NATGAS: Gas Summary at European Close: TTF Ticks Up

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TTF is holding onto gains, albeit easing back from the morning session. Below-seasonal temperature forecasts and low wind may increase the need for gas-fired generation. Ongoing discussions around potential EU sanctions on Russian LNG imports are also supportive.

  • TTF FEB 25 up 0.3% at 47.09€/MWh
  • Temperatures in NW Europe are forecast to fall back below normal in the coming days
  • European gas storage has fallen to 64.98% full on Jan. 13, according to GIE
  • Norwegian pipeline supplies to Europe are nominated down to 324mcm/d today, according to Bloomberg.
  • The Gaslog Georgetown LNG tanker is the latest vessel to divert towards Europe, according to Bloomberg ship tracking.
  • The EU is considering a gradual ban on Russian LNG as part of measures for its 16th sanctions package according to Bloomberg sources.
  • Russia targeted Ukraine's gas infrastructure and other energy facilities in its latest major air strike on Wednesday according to President Volodymyr Zelenskiy.
  • Egypt is in talks with Eni to build a new LNG import facility, planned near Damietta on the Mediterranean coast.
  • Germany's DET, will hold auctions next month for more 2025 LNG regasification slots at the Wilhelmshaven and Brunsbuttel.
  • Gas-fired power generation in Europe is expected to decline year on year in 2025, with German generation to average 4.4G, Platts said.
  • Robust LNG carrier-fleet expansion will likely far outstrip LNG trade growth of about 4.5%-5% in 2025, according to Bloomberg forecasts based on Clarksons data.
  • High natural gas prices in Europe are due to hedge fund speculative trading and not reflecting real supply and demand, according to Gary Mazzotti, CEO of EP Infrastructure.
  • LNG stockpiles held by Japanese utilities rebounded 12.8% w/w on Jan. 12 to 2.11m mt.
  • MNI Gas Weekly: https://mni.marketnews.com/4hbAQcG
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TTF is holding onto gains, albeit easing back from the morning session. Below-seasonal temperature forecasts and low wind may increase the need for gas-fired generation. Ongoing discussions around potential EU sanctions on Russian LNG imports are also supportive.

  • TTF FEB 25 up 0.3% at 47.09€/MWh
  • Temperatures in NW Europe are forecast to fall back below normal in the coming days
  • European gas storage has fallen to 64.98% full on Jan. 13, according to GIE
  • Norwegian pipeline supplies to Europe are nominated down to 324mcm/d today, according to Bloomberg.
  • The Gaslog Georgetown LNG tanker is the latest vessel to divert towards Europe, according to Bloomberg ship tracking.
  • The EU is considering a gradual ban on Russian LNG as part of measures for its 16th sanctions package according to Bloomberg sources.
  • Russia targeted Ukraine's gas infrastructure and other energy facilities in its latest major air strike on Wednesday according to President Volodymyr Zelenskiy.
  • Egypt is in talks with Eni to build a new LNG import facility, planned near Damietta on the Mediterranean coast.
  • Germany's DET, will hold auctions next month for more 2025 LNG regasification slots at the Wilhelmshaven and Brunsbuttel.
  • Gas-fired power generation in Europe is expected to decline year on year in 2025, with German generation to average 4.4G, Platts said.
  • Robust LNG carrier-fleet expansion will likely far outstrip LNG trade growth of about 4.5%-5% in 2025, according to Bloomberg forecasts based on Clarksons data.
  • High natural gas prices in Europe are due to hedge fund speculative trading and not reflecting real supply and demand, according to Gary Mazzotti, CEO of EP Infrastructure.
  • LNG stockpiles held by Japanese utilities rebounded 12.8% w/w on Jan. 12 to 2.11m mt.
  • MNI Gas Weekly: https://mni.marketnews.com/4hbAQcG