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Hot Weather and Low Supply Keep TTF Elevated

NATURAL GAS

European gas ticking upwards as hot weather continues in across the continent while maintenance reduces Norwegian flows and supply from Russia remains low.

  • TTF SEP 22 up 1.7% at 209.65€/MWh
  • Hot weather has boosted cooling demand and low water levels could make diesel and coal difficult to transport and could increase gas usage as an alternative.
  • Supply from Russia through Nord Stream is today nominated at 32.2mcm/d while transit through Ukraine is at 41.9mcm/d.
  • Nominations for supply from Norway are slightly lower at 309.8mcm/d due to planned maintenance down from around 323mcm/d late last week.
  • High LNG imports are helping maintain European storage injections with stocks now 74.36% full. Storage in Germany is up to 76.1%, Italy to 77.0%, France at 85.85% and Netherlands at 70.20%.
Energy BulletsCommodities
Energy BulletsCommodities

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