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NATGAS: Mid-Day Gas Summary: TTF Down Slightly

NATGAS
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TTF front-month is down slightly on the day though recovered some losses on Thursday morning following the news that Russian drone and missile attacks hit Ukrainian gas production facilities. Easing demand pressure from milder weather and lower supply risk sentiment amid efforts to secure peace in Ukraine are continuing to keep a lid on gains.

  • TTF MAR 25 down 0.4% at 48.05€/MWh
  • Ukrainian natural gas production facilities were damaged by a Russian drone and missile barrage overnight, according to a social media post by Energy Minister German Galushchenko, cited by Bloomberg.
  • Temperatures in NW Europe are forecast above normal into next week but are expected to drift back to near normal at the end of the month and for the start of March.
  • Norwegian pipeline supplies to Europe are up to 333.4mcm/d with no planned field or plant outages this week.
  • European gas storage has fallen to 42.59% full on Feb. 18, according to GIE, compared to the previous five year average of 53.0%. Withdrawal rates rise again to the highest since Jan. 22.
  • European LNG sendout was down slightly to 400mcm/d on Feb. 18 compared to an average of 443mcm/d over the previous week.
  • Norway’s January gas output was below the official forecast according to the Norwegian Offshore Directorate.
  • The Venture Global’s Plaquemines LNG facility in Louisiana on Wednesday received U.S. federal regulator approval to increase export capacity, Reuters said.
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TTF front-month is down slightly on the day though recovered some losses on Thursday morning following the news that Russian drone and missile attacks hit Ukrainian gas production facilities. Easing demand pressure from milder weather and lower supply risk sentiment amid efforts to secure peace in Ukraine are continuing to keep a lid on gains.

  • TTF MAR 25 down 0.4% at 48.05€/MWh
  • Ukrainian natural gas production facilities were damaged by a Russian drone and missile barrage overnight, according to a social media post by Energy Minister German Galushchenko, cited by Bloomberg.
  • Temperatures in NW Europe are forecast above normal into next week but are expected to drift back to near normal at the end of the month and for the start of March.
  • Norwegian pipeline supplies to Europe are up to 333.4mcm/d with no planned field or plant outages this week.
  • European gas storage has fallen to 42.59% full on Feb. 18, according to GIE, compared to the previous five year average of 53.0%. Withdrawal rates rise again to the highest since Jan. 22.
  • European LNG sendout was down slightly to 400mcm/d on Feb. 18 compared to an average of 443mcm/d over the previous week.
  • Norway’s January gas output was below the official forecast according to the Norwegian Offshore Directorate.
  • The Venture Global’s Plaquemines LNG facility in Louisiana on Wednesday received U.S. federal regulator approval to increase export capacity, Reuters said.