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Mid-Day Gas Summary: TTF Rises on Week

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TTF front month is closing the week around 1.4% higher with supply risks from Ukraine adding to competition for LNG supplies from Asia.

  • TTF JUN 24 up 0.6% at 30.44€/MWh
  • TTF Q3 24 up 0.6% at 31.19€/MWh
  • Warmer than normal temperatures are forecasts across NW and central Europe throughout the next two weeks, particularly in the UK, northern Germany and Scandinavia, according to Weather Services International.
  • Norwegian pipeline supplies to Europe are today nominated at 320.0mcm/d. Steady outages of 30.4mcm/d this week are expected to rise to a peak of 177mcm/d on May 21.
  • European gas storage injections edged lower but remain near normal this week with total stores 66.06% full on May 15 according to GIE compared to the five-year seasonal average of 51.8%.
  • Algeria's state exporter Sonatrach is delivering the first Algerian LNG cargo to Croatia's Krk terminal, on board the 171,800cbm Ougarta.
  • The EU is in discussion about the 14th sanctions package against Russia as it aims to ban transhipments (STS) and re-exports via EU ports.
  • China and Russia confirmed their interest in a Power of Siberia 2 pipeline according to Putin on Friday as part of his visit to China this week.
  • India’s LNG consumption increased by 6% on the year in April to 5.515bcm but was down 1.4% on the mont
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TTF front month is closing the week around 1.4% higher with supply risks from Ukraine adding to competition for LNG supplies from Asia.

  • TTF JUN 24 up 0.6% at 30.44€/MWh
  • TTF Q3 24 up 0.6% at 31.19€/MWh
  • Warmer than normal temperatures are forecasts across NW and central Europe throughout the next two weeks, particularly in the UK, northern Germany and Scandinavia, according to Weather Services International.
  • Norwegian pipeline supplies to Europe are today nominated at 320.0mcm/d. Steady outages of 30.4mcm/d this week are expected to rise to a peak of 177mcm/d on May 21.
  • European gas storage injections edged lower but remain near normal this week with total stores 66.06% full on May 15 according to GIE compared to the five-year seasonal average of 51.8%.
  • Algeria's state exporter Sonatrach is delivering the first Algerian LNG cargo to Croatia's Krk terminal, on board the 171,800cbm Ougarta.
  • The EU is in discussion about the 14th sanctions package against Russia as it aims to ban transhipments (STS) and re-exports via EU ports.
  • China and Russia confirmed their interest in a Power of Siberia 2 pipeline according to Putin on Friday as part of his visit to China this week.
  • India’s LNG consumption increased by 6% on the year in April to 5.515bcm but was down 1.4% on the mont