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NATGAS: Mid-Day Gas Summary: TTF Holding Range

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TTF is holding within the €48.5/MWh to €50.8/MWh range seen in recent days as falling storage inventories continue to support prices amid tight market risk despite the forecast of mild weather in the coming days.

  • TTF FEB 25 down 1% at 48.66€/MWh
  • European gas storage withdrawals remain well above normal and just below the highest since Feb 2021 seen on Jan. 21. Storage has fallen to 57.6% full on Jan. 22, according to GIE.
  • Temperatures in NW Europe are forecast above normal in the coming week but could fall back closer to normal for the first week of February.
  • European LNG sendout was 374mcm/d on Jan. 22 compared to an average of 377mcm/d so far in January.
  • Norwegian pipeline supplies to Europe are nominated down at 324.5mcm/d today, according to Bloomberg.
  • Greece's Alexandroupolis LNG terminal has resumed regasification services, Gastrade said.
  • Italy’s Panigaglia LNG terminal set to receive its first cargo since July 2024, according to ICIS, suggesting maintenance has finished.
  • Russian companies increased natural gas production by 7.4% to 708bcm in 2024, according to Kommersant.
  • Germany's energy regulator and Economy Ministry are collaborating with THE on a tender process to support a proposed subsidy mechanism for gas storage refills, Germany's gas market manager said, cited by Bloomberg.
  • LNG freight rates hit historic lows in the week ending Jan. 23, Platts said.
  • Japan’s largest LNG  buyer JERA plans to increase its purchase LNG from the USA to diversify its supply Reuters said.
  • The number of US LNG export cargoes fell to 22 in the week to Jan. 22 from 29 the week prior, according to the EIA. Total capacity of the vessels dropped to 84bcf from 110bcf.
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TTF is holding within the €48.5/MWh to €50.8/MWh range seen in recent days as falling storage inventories continue to support prices amid tight market risk despite the forecast of mild weather in the coming days.

  • TTF FEB 25 down 1% at 48.66€/MWh
  • European gas storage withdrawals remain well above normal and just below the highest since Feb 2021 seen on Jan. 21. Storage has fallen to 57.6% full on Jan. 22, according to GIE.
  • Temperatures in NW Europe are forecast above normal in the coming week but could fall back closer to normal for the first week of February.
  • European LNG sendout was 374mcm/d on Jan. 22 compared to an average of 377mcm/d so far in January.
  • Norwegian pipeline supplies to Europe are nominated down at 324.5mcm/d today, according to Bloomberg.
  • Greece's Alexandroupolis LNG terminal has resumed regasification services, Gastrade said.
  • Italy’s Panigaglia LNG terminal set to receive its first cargo since July 2024, according to ICIS, suggesting maintenance has finished.
  • Russian companies increased natural gas production by 7.4% to 708bcm in 2024, according to Kommersant.
  • Germany's energy regulator and Economy Ministry are collaborating with THE on a tender process to support a proposed subsidy mechanism for gas storage refills, Germany's gas market manager said, cited by Bloomberg.
  • LNG freight rates hit historic lows in the week ending Jan. 23, Platts said.
  • Japan’s largest LNG  buyer JERA plans to increase its purchase LNG from the USA to diversify its supply Reuters said.
  • The number of US LNG export cargoes fell to 22 in the week to Jan. 22 from 29 the week prior, according to the EIA. Total capacity of the vessels dropped to 84bcf from 110bcf.