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NATGAS: Mid-Day Gas Summary: TTF Gains Ahead of Expected Transit Gas Halt

NATGAS
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TTF is trading just below the high of the day of €49.2/MWh as Ukraine transit gas flows dip slightly ahead of the expected halt to the pipeline supplies tomorrow.  The forecast for colder weather later this week is adding extra support.

  • European gas storage was down to 73.17% full on Dec. 29, according to GIE, compared to the previous five year average of 77.5% with withdrawal rates holding above normal.
  • Stores could come under further pressure in the new year with the anticipated end of Russian pipeline gas supplies transit via Ukraine and with potential for colder weather.
  • Forecaster Maxar expects a colder than normal January for NW Europe and the Nordics with possible weaker wind levels, according to Bloomberg.
  • Venture Global is set to export its second LNG cargo from Plaquemines LNG in Louisiana. Its inaugural cargo left for Germany on the Venture Bayou LNG tanker on Dec. 26.
  • LNG volumes at sea fell 7.3% in the last week but remain well above normal, according to Bloomberg.
    • TTF FEB 25 up 1.6% at 48.63€/MWh
    • NBP FEB 25 up 1.6% at 121.75p/th
    • JKM Feb 25 up 1.3% at 15.43$/mmbtu
    • US Natgas FEB 25 down 4.5% at 3.76$/mmbtu
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TTF is trading just below the high of the day of €49.2/MWh as Ukraine transit gas flows dip slightly ahead of the expected halt to the pipeline supplies tomorrow.  The forecast for colder weather later this week is adding extra support.

  • European gas storage was down to 73.17% full on Dec. 29, according to GIE, compared to the previous five year average of 77.5% with withdrawal rates holding above normal.
  • Stores could come under further pressure in the new year with the anticipated end of Russian pipeline gas supplies transit via Ukraine and with potential for colder weather.
  • Forecaster Maxar expects a colder than normal January for NW Europe and the Nordics with possible weaker wind levels, according to Bloomberg.
  • Venture Global is set to export its second LNG cargo from Plaquemines LNG in Louisiana. Its inaugural cargo left for Germany on the Venture Bayou LNG tanker on Dec. 26.
  • LNG volumes at sea fell 7.3% in the last week but remain well above normal, according to Bloomberg.
    • TTF FEB 25 up 1.6% at 48.63€/MWh
    • NBP FEB 25 up 1.6% at 121.75p/th
    • JKM Feb 25 up 1.3% at 15.43$/mmbtu
    • US Natgas FEB 25 down 4.5% at 3.76$/mmbtu