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GasTerra and Orsted Supply from Russia to Halt

NATURAL GAS

TTF trading higher after pipeline flows from Russia halted to GasTerra in the Netherlands and potentially to Orsted in Denmark. TTF up 2.1% to 93.185€/MWh.

  • GasTerra said flows will stop on 31st May after they refused to pay for gas in roubles. The cessation of Gazprom supply results in a loss 2bcm of gas which GasTerra has replaced from other providers. Orsted is preparing for a cut in supplies from Gazprom after also rejecting their payment terms.
  • Russian supply transit through Ukraine is down to 42.12mcm/d and Nord Stream is also nominated lower at 65.15GWH/h today.
  • Norwegian flows are back up to 332.7mcm/d compared to an average of 310mcm/d last week. A cut in supplies is expected from 8th June as operations at Troll, Heimdal, Kvitebjorn and Visund undergo maintenance for a couple of days.
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