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LNG: Gas Summary at European Close: TTF Rebounds

LNG
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TTF has rebounded after falling to the lowest since late July yesterday on reports of potential for a deal to supply gas from Azerbaijan to Europe transiting via Ukraine from January. However, no agreement has yet been finalised.

  • TTF OCT 24 up 4.4% at 34.55€/MWh
  • Temperatures in NW Europe are expected above normal for the coming few days but forecast to drop below normal into the last few days of the month.
  • Norwegian pipeline supplies to Europe are today nominated at 221.0mcm/d, according to Bloomberg. Gassco shows outages of 156.4mcm/d today.
  • European gas storage has edged higher to 93.45% full on Sep 18, according to GIE.
  • Russia’s sanctioned Arctic LNG 2 facility sent more fuel to storage, Bloomberg said.
  • LNG Canada has begun supplying natural gas to its LNG export terminal in British Columbia.
  • Algeria’s Sonatrach is looking to sign contracts with major energy companies within the next few months to develop new fields, according to Bloomberg.
  • The JKM premium over TTF has risen to the highest of the year at $2.7/mmbtu from an average of just $0.5/mmbtu in Q1 and $1.5/mmbtu in Q3, according to IEA analyst Greg Molnar.
  • Asia’s spot LNG prices were little changed this week amid muted market activity due to Gastech, Reuters said,
  • Atlantic LNG spot charter rates are showing seasonal weakness as the Spark Atlantic spot freight assessment was at a low of ~57$k/day in mid-September, according to Timera Energy.
  • The Power of Siberia gas pipeline will reach design capacity of 38 bcm/y ahead of schedule by December, Gazprom said.
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TTF has rebounded after falling to the lowest since late July yesterday on reports of potential for a deal to supply gas from Azerbaijan to Europe transiting via Ukraine from January. However, no agreement has yet been finalised.

  • TTF OCT 24 up 4.4% at 34.55€/MWh
  • Temperatures in NW Europe are expected above normal for the coming few days but forecast to drop below normal into the last few days of the month.
  • Norwegian pipeline supplies to Europe are today nominated at 221.0mcm/d, according to Bloomberg. Gassco shows outages of 156.4mcm/d today.
  • European gas storage has edged higher to 93.45% full on Sep 18, according to GIE.
  • Russia’s sanctioned Arctic LNG 2 facility sent more fuel to storage, Bloomberg said.
  • LNG Canada has begun supplying natural gas to its LNG export terminal in British Columbia.
  • Algeria’s Sonatrach is looking to sign contracts with major energy companies within the next few months to develop new fields, according to Bloomberg.
  • The JKM premium over TTF has risen to the highest of the year at $2.7/mmbtu from an average of just $0.5/mmbtu in Q1 and $1.5/mmbtu in Q3, according to IEA analyst Greg Molnar.
  • Asia’s spot LNG prices were little changed this week amid muted market activity due to Gastech, Reuters said,
  • Atlantic LNG spot charter rates are showing seasonal weakness as the Spark Atlantic spot freight assessment was at a low of ~57$k/day in mid-September, according to Timera Energy.
  • The Power of Siberia gas pipeline will reach design capacity of 38 bcm/y ahead of schedule by December, Gazprom said.