MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

CHINA PBOC CONDUCTS CNY66.1 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1358 WEDS VS 7.1334

MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI China Daily Summary: Tuesday, July 23

MNI: UK APR-JUN MEDIAN PAY AWARDS +4.9% :Brightmine

US Treasury Auction Calendar

BoC Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Mid-Day Gas Summary: TTF Finds Support

NATGAS
Homepagemarkets-real-timeCommoditiesEnergy BulletsBullet

TTF front month has traded through the high of last week with support from geopolitical risks and with Norway supply outages this week. LNG supply risks in Asia add to risk of global competition for the fuel as Malaysia’s Bintulu plant slowly ramps up after outage earlier this month and with Australia’s Gorgon still offline.

  • TTF JUN 24 up 3.7% at 31.92€/MWh
  • TTF Q3 24 up 3.4% at 32.62€/MWh
  • Norwegian pipeline supplies to Europe are today nominated at 317.3mcm/d. Gassco data shows outages of 41mcm/d today will rise to 177mcm/d tomorrow amid works at Troll and Kollsnes before declining back to around 55mcm/d later this week.
  • Temperatures in NW and central Europe are still forecasts to hold above normal throughout the two-week outlook.
  • Total European gas storage was up to 66.77% full on May 18 according to GIE compared to the five-year seasonal average of 52.8% but with injection rates back below normal in recent days.
  • Seven LNG vessels are waiting offshore at the Bintulu export facility in Malaysia as exports slowly recover after an outage due to power loss earlier this month, according to Bloomberg ship-tracking data.
  • The LNG vessel Minerva Limnos delivered a US LNG cargo into Jordan over the weekend according to ICIS.
  • LNG imports to China are surging with buyers incentivized by lower prices this year according to BNEF.
223 words

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.

TTF front month has traded through the high of last week with support from geopolitical risks and with Norway supply outages this week. LNG supply risks in Asia add to risk of global competition for the fuel as Malaysia’s Bintulu plant slowly ramps up after outage earlier this month and with Australia’s Gorgon still offline.

  • TTF JUN 24 up 3.7% at 31.92€/MWh
  • TTF Q3 24 up 3.4% at 32.62€/MWh
  • Norwegian pipeline supplies to Europe are today nominated at 317.3mcm/d. Gassco data shows outages of 41mcm/d today will rise to 177mcm/d tomorrow amid works at Troll and Kollsnes before declining back to around 55mcm/d later this week.
  • Temperatures in NW and central Europe are still forecasts to hold above normal throughout the two-week outlook.
  • Total European gas storage was up to 66.77% full on May 18 according to GIE compared to the five-year seasonal average of 52.8% but with injection rates back below normal in recent days.
  • Seven LNG vessels are waiting offshore at the Bintulu export facility in Malaysia as exports slowly recover after an outage due to power loss earlier this month, according to Bloomberg ship-tracking data.
  • The LNG vessel Minerva Limnos delivered a US LNG cargo into Jordan over the weekend according to ICIS.
  • LNG imports to China are surging with buyers incentivized by lower prices this year according to BNEF.