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German THE Plans to Withdraw Gas Curbing TTF Prices

NATURAL GAS

Analysts suggest Germany's gas market trading hub, Trading Hub Europe (THE) plans to sell 37TWh of the gas it has in storage this winter is curbing EU prices by up to 5€/MWh according to Montel.

  • THE plans to sell the first volumes of gas stored under a government mandate agreed in 2022 to help alleviate a supply crisis. The sales would total around 15% of total German capacity although exact sale volumes depend on market development and winter prices.
  • The negative impact of the gas sales could extend into Q1 according to the analysts.
  • Sales will take place in coordination with the BMWK (Economy Ministry) and the Federal Network Agency.
  • German storage was at 98.96% full on 26 Nov with 252.3TWh of gas in storage according to GIE data.

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