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Mid-Day Gas Summary: TTF Slides

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TTF is hovering around its lowest levels since May 2 as warm weather across Europe stifles demand. Meanwhile, healthy storage levels help to offset supply and geopolitical risks.

  • TTF JUN 24 down 0.6% at 29.86€/MWh
  • TTF Q3 24 down 0.7% at 30.5€/MWh
  • Temperatures in NW and central Europe are expected to remain above normal throughout the two-week forecast.
  • Norwegian pipeline supplies to Europe have recovered to 325mcm/d today with no changes in outages currently expected for the rest of this week according to Gassco.
  • Total European gas storage was 64.44% full on May 10 according to GIE compared to the five-year seasonal average of 50.5%. Net injection rates have risen in recent days back towards near normal seasonal levels.
  • The capacity at the NO2-NL Feda-Eemshaven interconnector has been reduced by 103MW to 620MW until 25 May, Nordpool remit data showed.
  • Maintenace at France's Montoir LNG import terminal will reduce regasification capacity from 11 May until 12 July, according to operator Elengy.
  • Japanese LNG demand could be boosted by up to 20 cargoes in the year to July 2025 from any delays to proposed nuclear power plant restarts in the country, according to BNEF.
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TTF is hovering around its lowest levels since May 2 as warm weather across Europe stifles demand. Meanwhile, healthy storage levels help to offset supply and geopolitical risks.

  • TTF JUN 24 down 0.6% at 29.86€/MWh
  • TTF Q3 24 down 0.7% at 30.5€/MWh
  • Temperatures in NW and central Europe are expected to remain above normal throughout the two-week forecast.
  • Norwegian pipeline supplies to Europe have recovered to 325mcm/d today with no changes in outages currently expected for the rest of this week according to Gassco.
  • Total European gas storage was 64.44% full on May 10 according to GIE compared to the five-year seasonal average of 50.5%. Net injection rates have risen in recent days back towards near normal seasonal levels.
  • The capacity at the NO2-NL Feda-Eemshaven interconnector has been reduced by 103MW to 620MW until 25 May, Nordpool remit data showed.
  • Maintenace at France's Montoir LNG import terminal will reduce regasification capacity from 11 May until 12 July, according to operator Elengy.
  • Japanese LNG demand could be boosted by up to 20 cargoes in the year to July 2025 from any delays to proposed nuclear power plant restarts in the country, according to BNEF.