Free Trial

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%.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.