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NATGAS: Gas Summary at European Close: TTF Up 5% on Week

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TTF is on track for daily and weekly gains amid strong storage withdrawals and ongoing supply risks. This is offsetting warmer temperatures in Northwest Europe and higher LNG imports. Front month is on track for gains of around 5%.

  • TTF FEB 25 up 2.3% at 47.31€/MWh
  • Temperatures in NW Europe are forecast to rise over the coming week.
  • European gas storage has fallen to 63.34% full on Jan. 15, according to GIE.
  • Norwegian pipeline supplies to Europe are nominated at 323.8mcm/d today, according to Bloomberg.
  • A ramp-up of US LNG production may ease competition for cargoes between Europe and Asia, even as the market focuses on Asia’s summer procurement, Platts said.
  • The cessation of Russian gas via Ukraine had a localised impact on Central Europe, rather than a broader impact on the European market as a whole, OIES said.
  • Turkey has turned towards LNG imports to support its winter gas demand.
  • EU imports of LNG from Russia have increased on year in the first two weeks of 2025, OPIS said.
  • A fourth tanker is lined up at the jetty of Venture Global's new US Plaquemines LNG export facility, ICIS said.
  • A US LNG push under the Trump Administration should benefit Japan the head of the country's utilities federation said on Friday.
  • The number of US LNG export cargoes increased to 29 in the week to Jan. 15 from 27 the week prior, the EIA said.
  • Asia’s LNG spot activity for the February JKM pricing fell due to the holiday season and sufficient inventories, Platts said.
  • Russia’s gas supplies to Iran may start with flows of around 2 bcm/y, according to Putin, possibly rising to as high as 55 bcm/y.
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TTF is on track for daily and weekly gains amid strong storage withdrawals and ongoing supply risks. This is offsetting warmer temperatures in Northwest Europe and higher LNG imports. Front month is on track for gains of around 5%.

  • TTF FEB 25 up 2.3% at 47.31€/MWh
  • Temperatures in NW Europe are forecast to rise over the coming week.
  • European gas storage has fallen to 63.34% full on Jan. 15, according to GIE.
  • Norwegian pipeline supplies to Europe are nominated at 323.8mcm/d today, according to Bloomberg.
  • A ramp-up of US LNG production may ease competition for cargoes between Europe and Asia, even as the market focuses on Asia’s summer procurement, Platts said.
  • The cessation of Russian gas via Ukraine had a localised impact on Central Europe, rather than a broader impact on the European market as a whole, OIES said.
  • Turkey has turned towards LNG imports to support its winter gas demand.
  • EU imports of LNG from Russia have increased on year in the first two weeks of 2025, OPIS said.
  • A fourth tanker is lined up at the jetty of Venture Global's new US Plaquemines LNG export facility, ICIS said.
  • A US LNG push under the Trump Administration should benefit Japan the head of the country's utilities federation said on Friday.
  • The number of US LNG export cargoes increased to 29 in the week to Jan. 15 from 27 the week prior, the EIA said.
  • Asia’s LNG spot activity for the February JKM pricing fell due to the holiday season and sufficient inventories, Platts said.
  • Russia’s gas supplies to Iran may start with flows of around 2 bcm/y, according to Putin, possibly rising to as high as 55 bcm/y.