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Gas Summary at European Close: TTF Under Pressure

NATGAS

TTF has continued to trade lower today as stockpiles remain high for the time of year and Hurricane Beryl shows limited impact for LNG supply.

  • TTF AUG 24 down 2% at 30.72€/MWh
  • European gas storage was 80% full on July 8 vs the 5-yr seasonal norm of 70% for this time of year according to GIE.
  • Norwegian nominated flows to the UK and Northwest Europe terminals at 335.30 mcm/d vs 5-day moving avg 332.70 mcm/d according to Gassco.
  • Freeport LNG Readying Operation Restart After Hurricane Beryl: Reuters
  • The US second-largest LNG liquefaction facility, Freeport LNG, was preparing to restart processing operations by July 11, according to Reuters.
  • Japanese LNG storage for power fell below 2m tonnes in the first week of July for the first time since April according to Meti data.
  • Gas markets still await news on the return of Freeport LNG in Texas after it shut at the weekend ahead of Hurricane Beryl’s arrival on Monday.
  • The China marketing arm of Russia’s Novatek is looking to sell LNG shipments into China as it aims to break into the new market Reuters sources report.
  • Shell, TotalEnergies, BP and Mitsui have all agreed to invest in ADNOC’s next Abu Dhabi LNG expansion project.
  • MNI GAS MARKET WEEKLY: Full piece here:
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TTF has continued to trade lower today as stockpiles remain high for the time of year and Hurricane Beryl shows limited impact for LNG supply.

  • TTF AUG 24 down 2% at 30.72€/MWh
  • European gas storage was 80% full on July 8 vs the 5-yr seasonal norm of 70% for this time of year according to GIE.
  • Norwegian nominated flows to the UK and Northwest Europe terminals at 335.30 mcm/d vs 5-day moving avg 332.70 mcm/d according to Gassco.
  • Freeport LNG Readying Operation Restart After Hurricane Beryl: Reuters
  • The US second-largest LNG liquefaction facility, Freeport LNG, was preparing to restart processing operations by July 11, according to Reuters.
  • Japanese LNG storage for power fell below 2m tonnes in the first week of July for the first time since April according to Meti data.
  • Gas markets still await news on the return of Freeport LNG in Texas after it shut at the weekend ahead of Hurricane Beryl’s arrival on Monday.
  • The China marketing arm of Russia’s Novatek is looking to sell LNG shipments into China as it aims to break into the new market Reuters sources report.
  • Shell, TotalEnergies, BP and Mitsui have all agreed to invest in ADNOC’s next Abu Dhabi LNG expansion project.
  • MNI GAS MARKET WEEKLY: Full piece here: