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NATGAS: Mid-Day Gas Summary: TTF Trades Higher

NATGAS
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TTF front month is trading higher today with support from a reduction in Norwegian pipeline supply and slightly cooler weather into the coming weekend. This follows bearish pressure at the start of this week with the return of the US Freeport LNG terminal and Norway's Hammerfest LNG plant and from lower storage withdrawals.

  • TTF FEB 25 up 1.2% at 48.46€/MWh
  • Forecasts show temperatures in NW Europe edging lower this week to fall slightly below normal over the weekend followed by a recovery to near normal through the second week of the outlook.
  • Norwegian pipeline supplies to Europe are nominated down to 319.6mcm/d today, according to Bloomberg
  • European gas storage has fallen to 55.8% full on Jan. 26, according to GIE, compared to the previous five-year average of 63.2%.
  • The quantity of LNG on tankers that have not unloaded for at least 20 days edged down to 3.18m tons as of Jan. 26 after falling to a low of 2.68m tons earlier this month.
  • Germany continues to rely on Russian LNG via EU ports, with imports through France's Dunkirk port surging more than sixfold in 2024 from 2023, , according to a report cited by the FT
  • Greece’s Alexandroupolis LNG regasification terminal is unavailable until further notice due to technical issue its operator said on Tuesday.
  • TotalEnergies CEO has discussed the resumption of the troubled Mozambique LNG project with Mozambique President Daniel Chapo, Bloomberg reports.
  • Indonesia's Pertamina has offered six LNG cargoes from Cheniere Energy's Corpus Christi plant in the US according to Reuters.
  • Russia reiterated on Tuesday it would like to see a resumption of its gas supplies to Europe via Ukraine return.
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TTF front month is trading higher today with support from a reduction in Norwegian pipeline supply and slightly cooler weather into the coming weekend. This follows bearish pressure at the start of this week with the return of the US Freeport LNG terminal and Norway's Hammerfest LNG plant and from lower storage withdrawals.

  • TTF FEB 25 up 1.2% at 48.46€/MWh
  • Forecasts show temperatures in NW Europe edging lower this week to fall slightly below normal over the weekend followed by a recovery to near normal through the second week of the outlook.
  • Norwegian pipeline supplies to Europe are nominated down to 319.6mcm/d today, according to Bloomberg
  • European gas storage has fallen to 55.8% full on Jan. 26, according to GIE, compared to the previous five-year average of 63.2%.
  • The quantity of LNG on tankers that have not unloaded for at least 20 days edged down to 3.18m tons as of Jan. 26 after falling to a low of 2.68m tons earlier this month.
  • Germany continues to rely on Russian LNG via EU ports, with imports through France's Dunkirk port surging more than sixfold in 2024 from 2023, , according to a report cited by the FT
  • Greece’s Alexandroupolis LNG regasification terminal is unavailable until further notice due to technical issue its operator said on Tuesday.
  • TotalEnergies CEO has discussed the resumption of the troubled Mozambique LNG project with Mozambique President Daniel Chapo, Bloomberg reports.
  • Indonesia's Pertamina has offered six LNG cargoes from Cheniere Energy's Corpus Christi plant in the US according to Reuters.
  • Russia reiterated on Tuesday it would like to see a resumption of its gas supplies to Europe via Ukraine return.